Section X-42

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Section X-42: Economic development credit enhancement reserve fund - General obligation bonds.

  The Oklahoma Development Finance Authority is hereby authorized
to issue generalobligation bonds, in an amount not to exceed One
Hundred Million Dollars ($100,000,000.00), for the purpose of
providing an economic development credit enhancement reserve fund
for the Authority.  This fund shall be used by the Authority
solely to secure the payment of principal, interest and premium,
if any, on the revenue bonds and other financial obligations
issued by the Authority after other pledged monies and other
reserve funds are used to the extent allowable by law.  The
Legislature shall provide sufficient appropriations to pay the
principal and interest of any general obligation bonds issued
pursuant to this resolution. Further, the Legislature shall
establish a method by law to provide for issuance of the bonds or
portions thereof when it is necessary and to provide for
administration of the economic development credit enhancement
reserve fund.

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