2017 Oklahoma Statutes
Title 62. Public Finance
§62-878. Use of bond proceeds.
A. Any municipality or county which has established a rural housing incentive district may use the proceeds of special obligation bonds issued under Section 8 of this act, or any uncommitted funds derived from those sources of revenue set forth in subsection A of Section 8 of this act, to implement specific projects identified within the rural housing incentive district project plan including, without limitation:
1. Acquisition of property within the specific project area or areas as provided in Section 7 of this act;
2. Payment of relocation assistance;
3. Site preparation;
4. Sanitary and storm sewers and lift stations;
5. Drainage conduits, channels and levees;
6. Street grading, paving, graveling, macadamizing, curbing, guttering and surfacing;
7. Street lighting fixtures, connection and facilities;
8. Underground gas, water, heat, and electrical services and connections located within the public right-of-way;
9. Sidewalks; and
10. Water mains and extensions.
B. None of the proceeds from the sale of special obligation bonds issued under Section 8 of this act shall be used for the construction of buildings or other structures to be owned by or to be leased to any developer of a residential housing project within the district.
Added by Laws 1999, c. 140, § 9, eff. Nov. 1, 1999.
