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OK SJR14
Joint Resolution
Status
2/4/2013
Primary Sponsor
Patrick Anderson
Click for details
AI Summary
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Directs the Oklahoma Secretary of State to refer a proposed constitutional amendment to voters that would add Section 44 to Article X of the Oklahoma Constitution.
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Authorizes the Oklahoma Development Finance Authority (ODFA) to issue up to $100 million in general obligation bonds for infrastructure projects in municipalities with populations of 125,000 or less.
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Limits individual municipalities to no more than $10 million in bond financing for any single infrastructure project.
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Requires bond repayment through the Midsize City Infrastructure Financing Fund, funded by 0.0025% of state sales tax revenues from eligible municipalities, with legislative appropriations available if needed.
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Requires the Legislature to establish the method for bond issuance and administration of the infrastructure financing fund.
Legislative Description
Constitutional amendment; authorizing ODFA to issue obligation to finance infrastructure projects for cities.
Cities and Towns
Last Action
coauthored by Williams (principal House author)
2/12/2013