In the event a state agency has or receives appropriated or other funds to be applied to a project subject to a bond issuance, the agency may pay the funds to the Oklahoma Capitol Improvement Authority in advance of the bond issuance. The Authority shall deposit the funds in an interest-bearing account with the Office of the State Treasurer and use the funds and the interest on the funds to:
1. Pay other bond expenses of the issuance;
2. Pay for expenses related to the bond project;
3. Reduce the total bond debt service; or
4. Reduce the size of the required issuance.
Added by Laws 2008, c. 379, § 1, emerg. eff. June 3, 2008.