As used in the Oklahoma Bond Oversight and Reform Act:

1. "Council" means the Council of Bond Oversight;

2. "State Governmental Entity" means the State of Oklahoma or any agency, board, commission, authority, department, public trust of which the state is the beneficiary or other instrumentality of state government, other than a public trust with the state as beneficiary whose jurisdiction is limited to one county, including, but not limited to, the following:

a.Oklahoma Municipal Power Authority,

b.Oklahoma Development Authority,

c.Oklahoma Industrial Finance Authority,

d.Grand River Dam Authority,

e.Oklahoma Water Resources Board,

f.Northeast Oklahoma Public Facilities Authority,

g.Oklahoma Turnpike Authority,

h.Oklahoma Housing Finance Authority, and

i.Oklahoma Public, Industrial and Cultural Facilities Authority;

3. "Local Governmental Entity" means counties, cities and towns, school districts, public trusts of which a county, city or town or school district is the beneficiary or other political subdivision of the state;

4. "Purpose" means the issuer's principal intended use of the funds derived from the issuance of bonds or other obligations; and

5. "State Governmental Entity Financing" shall include local governmental transactions where the project is leased by a State Governmental Entity or debt service is paid directly or indirectly by a State Governmental Entity or where the project or improvement is in direct support of or administered by a State Governmental Entity.

Added by Laws 1987, c. 222, § 93, operative July 1, 1987. Amended by Laws 2012, c. 275, § 3, eff. Nov. 1, 2012.