Shown verbatim: the complete text as captured from the official PDF posted by the Oklahoma Legislature, fetched 2026-07-23. Page and line markers are part of the official record; nothing is edited or removed. The official bill page.
1 STATE OF OKLAHOMA
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2 2nd Session of the 60th Legislature (2026)
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3 SENATE BILL 2105 By: Pederson
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6 AS INTRODUCED
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7 An Act relating to the Oklahoma Capitol Improvement
7 Authority; amending 73 O.S. 2021, Section 371, which
8 relates to financing authority for construction,
8 repair and rehabilitation of Greer Center Facility;
9 authorizing the Department of Human Services to
9 sublease certain real property; granting certain
10 right to specified nonprofit organization; updating
10 statutory language; and declaring an emergency.
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13 BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
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14 SECTION 1. AMENDATORY 73 O.S. 2021, Section 371, is
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15 amended to read as follows:
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16 Section 371. A. 1. The Oklahoma Capitol Improvement Authority
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17 is hereby authorized to acquire real property or interests therein,
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18 together with improvements located thereon, and personal property
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19 and invest capital into improvements for purposes of construction,
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20 repair and rehabilitation of a the Greer Center Facility located on
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21 the grounds of the Northern Oklahoma Resource Center of Enid in
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22 Enid, Oklahoma.
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23 2. The Authority may hold title to the real property and
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24 improvements until such time as any obligations issued for this
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Req. No. 2827 Page 1
1 purpose are retired or defeased and may lease the real property and
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2 improvements to the Department of Human Services. Upon final
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3 redemption or defeasance of the obligations created pursuant to this
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4 section, title to the real property and improvements shall be
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5 transferred from the Authority to the Department of Human Services.
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6 3. Prior to the final redemption or defeasance of the
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7 obligations created pursuant to this section, the Department of
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8 Human Services may sublease the real property or a portion of the
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9 real property to a nonprofit organization exempt from federal income
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10 tax under Section 501(c)(3) of the Internal Revenue Code of 1986, as
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11 amended, for the purpose of construction and operation of a facility
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12 to serve at-risk youth. If such facility is still in operation upon
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13 the transfer of title to the real property from the Authority to the
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14 Department as provided by paragraph 2 of this subsection, the
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15 Department shall give the nonprofit organization right of first
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16 refusal on such real property.
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17 B. For the purpose of paying the costs for acquisition of the
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18 real property and improvements and personal property authorized in
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19 subsection A of this section, and for the purpose authorized in
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20 subsection C of this section, the Authority is hereby authorized to
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21 borrow monies on the credit of the income and revenues to be derived
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22 from the leasing of such real property and improvements and, in
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23 anticipation of collection of such income and revenues, issue
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24 negotiable obligations in the amount sufficient to generate net
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1 proceeds of Sixteen Million Dollars ($16,000,000.00) after providing
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2 for costs of issuance, credit enhancement, reserves and other
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3 associated expenses related to the financing. The Authority is
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4 authorized to capitalize interest on the obligations issued pursuant
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5 to the authority granted by this section for a period not to exceed
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6 one (1) year from the date of issuance. It is the intent of the
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7 Legislature to appropriate to the Department of Human Services
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8 sufficient monies to make rental payments for the purposes of
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9 retiring the obligations created pursuant to this section.
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10 C. To the extent funds are available, the Authority shall
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11 provide for the payment of professional fees and associated costs
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12 approved by the Authority.
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13 D. The Authority may issue obligations in one or more series
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14 and in conjunction with other issues of the Authority. The
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15 Authority is authorized to hire bond counsel, financial consultants
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16 and such other professionals as it may deem necessary to provide for
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17 the efficient sale of the obligations and may utilize a portion of
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18 the proceeds of any borrowing to create such reserves as may be
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19 deemed necessary and to pay costs associated with the issuance and
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20 administration of such obligations.
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21 E. The obligations authorized under this section may be sold at
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22 either competitive or negotiated sale, as determined by the
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23 Authority, and in such form and at such prices as may be authorized
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24 by the Authority. The Authority may enter into agreements with such
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1 credit enhancers and liquidity providers as may be determined
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2 necessary to efficiently market the obligations. The obligations
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3 may mature and have such provisions for redemption as shall be
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4 determined by the Authority, but in no event shall the final
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5 maturity of such obligations occur later than twenty (20) years from
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6 the first principal maturity date.
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7 F. Any interest earnings on funds or accounts created for the
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8 purposes of this section may be utilized as partial payment of the
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9 annual debt service or for the purposes directed by the Authority.
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10 G. The obligations issued under this section, the transfer
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11 thereof and the interest earned on such obligations including any
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12 profit derived from the sale thereof, shall not be subject to
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13 taxation of any kind by the State of Oklahoma this state, or by any
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14 county, municipality or political subdivision therein.
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15 H. The Authority may direct the investment of all monies in any
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16 funds or accounts created in connection with the offering of the
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17 obligations authorized under this section. Such investments shall
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18 be made in a manner consistent with the investment guidelines of the
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19 State Treasurer. The Authority may place additional restrictions on
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20 the investment of such monies if necessary to enhance the
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21 marketability of the obligations.
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22 SECTION 2. It being immediately necessary for the preservation
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23 of the public peace, health or safety, an emergency is hereby
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1 declared to exist, by reason whereof this act shall take effect and
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2 be in full force from and after its passage and approval.
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4 60-2-2827 DC 1/15/2026 12:41:14 PM
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Req. No. 2827 Page 5Every fact on this page links to its source, starting with the official bill record.