A. In addition to all other powers expressly conferred upon the Oklahoma Development Finance Authority pursuant to Section 5062.8 of Title 74 of the Oklahoma Statues, the Authority is hereby authorized and empowered to take the following actions: 1. To issue ratepayer-backed bonds as provided in this act; 2. To establish and adjust from time to time the actual cost of an administrative fee for the costs associated with the Authority carrying out its power and duties under this act, to include costs of the Corporation Commission incurred under Section 4 of this act. The fee shall be included in the calculation of utility customer payments created by the financing order; and 3. To do all things necessary or convenient to carry out the powers expressly granted in this act. B. The Authority shall take the following actions: 1. To notify the Governor, President Pro Tempore of the Senate, the Speaker of the House of Representatives and the Oklahoma Corporation Commission upon issuance of a ratepayer-backed bond. The notification shall be in writing and include the amount and terms of the bond; and 2. To prepare a report annually regarding the bond activity related to the provisions of this act, to be submitted to the Governor, the President Pro Tempore of the Senate, the Speaker of the House of Representatives, the Attorney General and the Oklahoma Corporation Commission as of December 1 each year until the debt is retired.
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