In order to develop the eligible project area, the city elects to utilize Article X, § 6C of the Constitution of the state and the state’s Local Development Act, being 62 O.S. §§ 850 through 869, which authorize the use of local taxes for specific public investments, assistance in development financing, and as a revenue source for other public entities in the area, and which provide for the direction of apportionment of local taxes to plan, finance, and carry out development of unproductive, undeveloped, underdeveloped, or blighted areas as determined by the governing body of a city, town, or county.
(Ord. 2021-002, passed 8-16-2021)