Okla. Admin. Code § 200:20-1-2

Current through Vol. 42, No. 7, December 16, 2024

Section 200:20-1-2 - Authority and scope

The rules of this Chapter have been promulgated and adopted pursuant to that certain Trust dated November 1, 1974 as amended October 9, 1975 (the "Declaration of Trust") creating The Oklahoma Development Authority (the "Authority") and as authorized by Title 75, Section 301 et seq., the Oklahoma Public Trust Act, Section Title 60, Section Title 176 through 180.3 (the "Act") and Declaration of Trust as otherwise authorized under the laws of the State of Oklahoma (the "State"). The rules of this Chapter have been enacted for the purpose of implementing and administering the powers, duties and responsibilities of the Authority as provided by the Act, and the Declaration of Trust, which provide generally for the Authority to finance certain projects for the provision to such an extent and in such a manner which is now or hereafter shall be a proper public function of the State; to institute, furnish, provide and supply services and facilities for the conservation and implementation of the public welfare and protection and promotion of the public health of the State; to promote and development of agricultural, industrial, cultural and educational activities within the State; and to provide funds for the costs of financing, acquiring, constructing, installing, remodeling and equipping facilities to provide for and accomplish the foregoing.