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SENATE FLOOR VERSION
April 1, 2024
ENGROSSED HOUSE
BILL NO. 4074 By: Wallace of the House
and
Hall of the Senate
An Act relating to the Oklahoma Capitol Improvement
Authority; amending 73 O.S. 2021, Section 161, as
amended by Section 3, Chapte r 1, 1st Extraordinary
Session, O.S.L. 2023 (73 O.S. Supp. 2023, Section
161), which relates to the powers of the Authority;
expanding authority related to property acquisition
and improvements; authorizing property transactions
on the behalf of other stat e agencies; requiring
memoranda of understanding; and declaring an
emergency.
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. AMENDATORY 73 O.S. 2021, Section 161, as
amended by Section 3, Chapter 1, 1st Extra ordinary Session, O.S.L.
2023 (73 O.S. Supp. 2023, Section 161), is amended to read as
follows:
Section 161. In addition to all other powers expressly
conferred, the Authority is hereby authorized and empowered:
1. To adopt bylaws for the regulation of i ts affairs and the
conduct of its business;
2. To adopt an official seal and alter the same at pleasure;
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3. To fix and revise from time to time rent for the use of any
Authority building; provided , that the rents when so fixed, plus
revenues derived from other sources, shall produce sufficient
revenue:
a. to pay the annual cost of the operation, maintenance,
and repair of such building,
b. to pay as and when due the principal and interest on
the bonds issued to pay for such building, and
c. to accumulate and maintain reserves for such purposes;
4. To acquire, hold , improve, and dispose of real and personal
property in the exercise of its powers and the performance of its
duties under this act , and on behalf of other agencies of the state
as provided for in memoranda of understanding entered into between
the Authority and such agency or agencies of the state ;
5. To acquire by purchase or otherwise, on such terms and
conditions and in such manner as it may deem proper, or by the
exercise of the power of con demnation in the manner hereinafter
provided, such public or private property and interests therein as
it may deem necessary for carrying out the provisions of this act.
The exercise of the power of condemnation shall be in accordance
with and subject to the provisions of any and all existing laws and
statutes applicable to the exercise of the power of condemnation of
property for public use. In any condemnation proceedings the court
having jurisdiction of the suit, action or proceeding may make such
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orders as may be just to the Authority and to the owners of the
property to be condemned and may require an undertaking or other
security to secure such owners against any loss or damage by reason
of the failure of the Authority to accept and pay for the prope rty,
but neither such undertaking or security nor any act or obligation
of the Authority shall impose any liability upon the state or the
Authority except such as may be paid from the funds provided under
the provisions of the act;
6. To make and enter in to all contracts and agreements
necessary or incidental to the performance of its duties and the
execution of its powers under this act, and particularly to make and
enter into contracts and agreements with the departments and
agencies of the State of Okla homa and/or federal government relating
to the rent, amortization of cost , and use of the building by such
departments and agencies, or relating to the construction,
improvement, repair, and maintenance of the highway infrastructure
in this state;
7. To employ employees and agents as may be necessary in its
judgment, including, but not limited to, legal counsel and such
other professionals as may be needed for the issuance and
administration of bonds issued under the provisions of this title
and to fix their compensation; provided, that all such expenses
shall be payable solely from the proceeds of bonds issued under this
act or from revenues derived from the building;
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8. To receive and accept from any federal agency grants or
payments for or in aid of the construction of any project, and to
receive and accept aid or contributions from any source of either
money, property, labor , or other things of value to be held, used ,
and applied only for the purposes for which such grants and
contributions may be made;
9. To do any and all things necessary to comply with rules,
regulations, or requirements of any state or federal agency
administering any law enacted by the Congress of the United States
to aid or encourage the construction or use of such building;
10. To do all things necessary or convenient to carry out the
powers expressly granted in this act; and
11. To administer the Legacy Capital Financing Act.
SECTION 2. It being immediately necessary for the preservation
of the public peace, he alth or safety, an emergency is hereby
declared to exist, by reason whereof this act shall take effect and
be in full force from and after its passage and approval.
COMMITTEE REPORT BY: COMMITTEE ON FINANCE
April 1, 2024 - DO PASS