Resources

FAQ

View frequently asked questions (FAQ) for Oklahoma Utility Securitization Bonds.

What is the Oklahoma Development Finance Authority?

The Oklahoma Development Finance Authority was originally created as a public trust for the benefit of the State of Oklahoma in 1974, under provisions of the Public Trust Act (Title 60 Oklahoma Statutes, 1991 § 176 et seq.).  Subsequently, the role of the Authority was further clarified and expanded in 1987 with the adoption of the Oklahoma Development Finance Authority Act (Title 74 Oklahoma Statutes, 1991 § 5062.1 et seq.).

ODFA functions under the direction of a seven-member Board of Directors. The Governor appoints six members who are subject to the advice and consent of the Senate, for overlapping six-year terms. Of these six appointees, no two can be from the same congressional district, at least five must be from the financial community and have at least 15 years of experience. The remaining member of these six is an at-large, recognized businessperson in the state of Oklahoma. The Director of the Oklahoma Department of Commerce is an ex-officio voting member. Only the Board of Directors has the authority to approve or deny projects. The day-to-day management of the ODFA is vested in the president who is appointed by the Board of Directors of the Authority.

The ODFA is self-supporting and pays operating costs and covers losses with revenues generated by operations. The Authority has never received appropriated funds from the state nor has any taxpayer generated money, of any kind, been tapped for operations or losses.  This makes the Authority unique among economic development lenders throughout the United States.

How do I learn more about the Oklahoma Utility Securitization Process?
How do I buy bonds?

Step 1 - Learn about the bonds

Read the Preliminary Official Statement (POS) available from this web site or from the participating brokers to learn more about the bonds, including their security, maturity dates, credit ratings, the types of projects they finance and other information that you may find important to help you make an informed investment decision. This website is not an offer to sell any bonds.

Step 2 - Open a brokerage account

You must have an account with one of the brokerage firms participating in the bond sale, or with another firm that can place an order through a brokerage firm participating in the bond sale. Please check to determine if your broker can place an order through the participating brokers. (If you have a brokerage account, go to Step 3.) If you do not have an account, you may open one and purchase bonds during the Retail Sale Order Period. A list of brokers participating in the sale can be found on the left side of this page.

Investors are encouraged to begin the New Account process well in advance of the sale date. Depending on the brokerage firm, internal new account procedures may take some time to process.

Step 3 - Place your order

Contact the broker with whom you have an account, either online or by phone, to get more information about how to buy bonds during the Retail Sales period. Discuss with the broker the number of bonds, the maturity date and the price at which you are willing to purchase the bonds, as well as any questions you may have from examining the Preliminary Official Statement (POS).