Okla. Admin. Code § 200:20-3-1

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

Section 200:20-3-1 - Project and program costs for which financing may be expended

Funds made available by the Authority to an applicant for approved projects and programs may be utilized and expended by an applicant toward applicant's payment and financing of project and program costs, as approved by the Authority. For purposes of this Chapter, project costs include, but shall not be limited to, the following miscellaneous and general project cost item:

(1) Costs of acquiring the facilities comprising the project;

(2) Costs of acquiring and constructing other items included in the facilities, including obligations incurred for labor and materials by contractors, builders and materialmen;

(3) Costs of restoration or relocation of property damaged or destroyed in connection with any construction;

(4) Costs of premiums of contractors' performance, payment and completion bonds;

(5) Costs of title insurance premiums;

(6) Costs of machinery, equipment and related facilities acquired or purchased for inclusion in the facilities and the cost of shipping, transportation and installation thereof;

(7) Taxes or other municipal or governmental charges levied or lawfully assessed against the facilities acquired during the period of acquisition;

(8) Costs of insurance premiums in connection with acquisition of the facilities;

(9) Costs of architects' and engineers' services related to the project prior to and during the period of acquisition;

(10) Payment or reimbursement of the applicant for interim financing loans and advances and all costs thereof;

(11) Abstract and title opinion costs;

(12) Costs of project legal fees and expenses of counsel for the Authority, bond counsel and other necessary counsel;

(13) Costs of fees of other consultants of applicant;

(14) Recording fees;

(15) Loan insurance expenses;

(16) Other costs of publishing and printing proceedings incident thereto;

(17) Costs of bond insurance fees and letter of credit fees;

(18) Costs of bond trustees, co-trustees, paying agents fees and expenses;

(19) Costs of underwriters fees; and

(20) Such other reasonable and necessary expenses as may be required to complete and carry out the terms of the proposed project or program subject to approval of a majority of the Trustees.

Okla. Admin. Code § 200:20-3-1

Amended at 12 Ok Reg 2183, eff 7-14-95