University Veterinary Medicine Authority. A. In addition to any other authorization provided by law, the Oklahoma Capitol Improvement Authority is authorized to utilize available funds from the Legacy Capital Financing Fund created by Section 187B of Title 73 of the Oklahoma Statutes, in the amount of Two Hundred Fifty Million Dollars ($250,000,000.00) for the benefit of Oklahoma State University Veterinary Medicine Authority (OSUVMA) to construct, refurbish, or expand animal teaching hospitals and related facilities. B. LCF Recapitalization Payments shall be made related to the distribution of proceeds provided in subsection A of this section, in accordance with the provisions of the Legacy Capital Financing Act, provided that the twenty-year recapitalization period and associated recapitalization payments shall not begin until the state fiscal year beginning July 1, 2026. C. The Authority may distribute funds authorized pursuant to subsection A of this section in one or more tranches. D. The Authority may enter memoranda of understanding with agencies, departments, and subdivisions of the state as needed, to facilitate the provisions of this act, provided that such memoranda of understanding do not constitute a legal obligation of the State of Oklahoma or impede the administration of the provisions of the Legacy Capital Financing Act.
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