Okla. Admin. Code § 725:15-35-2

Current through Vol. 42, No. 3, October 15, 2024

Section 725:15-35-2 - [Effective 11/1/2024] Project selection criteria

The projects authorized by the Department shall be based on the following criteria:

(1) Recommendation by the Executive Director of the Oklahoma Tourism and Recreation Department,

(2) Demonstration of the ability to generate revenue or support revenue generating facilities under the jurisdiction of the Department,

(3) Provides for the maintenance, construction, or improvement of state facilities under the jurisdiction of the Department,

(4) Determination of statewide significance in purpose,

(5) Having a useful life that equals or exceeds the anticipated debt-service or repayment period,

(6) Located such that the Department has sufficient ownership of the land or a sufficient balance of leasehold interest or can obtain a sufficient extension of leasehold interest to allow amortization of the debt,

(7) Being of a size and scope that is viable to include in a financing package and does not exceed the ability of the Department to meet debt service or repayment obligations, without sacrificing on-going operation and maintenance needs, and

(8) Being in the overall best interest of the Oklahoma Tourism and Recreation Department.

Okla. Admin. Code § 725:15-35-2

Added at 19 Ok Reg 3025, eff 8-13-02 (emergency); Added at 20 Ok Reg 1355, eff 5-27-03

Amended by Oklahoma Register, Volume 38, Issue 24, September 1, 2021, eff. 9/11/2021

Amended by Oklahoma Register, Volume 41, Issue 23, August 15, 2024, eff. 11/1/2024