Related State Issuers
Related State Issuers
Jamie Manoles,
Director
OCIA was given authorization in HB 2896 to issue up to $200M in notes, bonds or federal loans with US Department of Transporation under the Transporation Infrastructure Finance and Innovation Act (TIFIA) for the benefit of the Oklahoma Department of Transportation. In May 2022, the first $41.55 million loan for the Rural Tow-lane Admancement and Management Plan (RAAMP) closed. These funds represent 49% of the eligle costs to complete 8 projects totaling 27 miles of shoulder and asphalt resurfacings and 6.4 miles of roadway reconstruciton. In June 2023, the second loan, totaling $44.65 million closed. These funds represent 49% of the eliglbe costs to complete another 8 projects. In June 2024, the final three authorized TIFIA RAAMP closed. Combined, TIFIA 3, 4 and 5 loans totaled $113,803,160 and covered another 17 projects.