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OK SB558

Bill

Official Source

Status

Introduced

2/4/2013

Primary Sponsor

Brian Crain

Click for details

Origin

Senate

2013 Regular Session

AI Summary

  • Oklahoma Capitol Improvement Authority authorized to issue up to $25 million in obligations to acquire property and construct a teaching hospital in Tulsa for the University of Oklahoma
  • Authority will hold title to the property and lease it to the OU Board of Regents until obligations are retired, then transfer ownership to the university
  • Legislature expresses intent to appropriate funds to the Board of Regents sufficient to make rental payments for retiring the debt obligations
  • Obligations may be sold through competitive or negotiated sale, with final maturity no later than 30 years from first principal maturity date
  • Interest earned on the obligations and any profit from their sale are exempt from state and local taxation

Legislative Description

Public finance; authorizing a bond issue for construction of a teaching hospital at OU campus in Tulsa. Effective date.

Education - Higher

Last Action

Second Reading referred to Rules

2/5/2013

Committee Referrals

Rules2/5/2013

Full Bill Text

No bill text available