The Oklahoma Community Economic Development Pooled Finance incentive creates a bonding incentive that targets job creation and infrastructure development aid; and a foundation of ensuring Oklahoma's infrastructure is high quality for attracting and retaining jobs.

Key Points:

• A $100 million infrastructure Pool is created for bonding local governments issued through the Oklahoma Development Finance Authority (ODFA.)
• The infrastructure pool revenue must be used for infrastructure development such as:
  • County/municipal roads & bridges
  • Water treatment facilities
  • Solid waste management facilities
• Other infrastructure assets owned by local government
• Bonds issued by the infrastructure pool are financed or repaid from taxes voted by local community.
• A $100 million Economic Development Pool is created for bonding to local governments in conjunction with a for profit entity through ODFA.
• The economic development pool shall be used for economic development projects in the state.
• Bonds issued through the Economic Development Pool may be paid from withholding taxes, and other revenue, at the for-profit entity benefitted by the bond.
• For bond obligations issued under this act, there is a maximum maturity of 25 years and a maximum coupon rate of 14%.
• 65% of the net proceeds from both the Infrastructure Pool and the Economic Development Pool shall used by the ODFA for communities that do not exceed 300,000 people.
• The remaining 35% may be used by the ODFA for any eligible local government.
• Effective July 1, 2009.

Pooled Finance Economic Development Application

Pooled Finance Infrastructure Application

Disclaimer
The materials contained on this website have been prepared by the Oklahoma Department of Commerce for informational purposes only and do not constitute legal or tax advice. This information is subject to change based on judicial interpretation and legislative action. The application of the information is subject to your unique facts and circumstances. YOU SHOULD NOT ACT UPON ANY INFORMATION CONTAINED IN THESE MATERIALS WITHOUT SEEKING YOUR OWN PROFESSIONAL LEGAL AND TAX ADVICE.