Opinion No. 68-325 (1968) Ag

Industrial Finance Authority — Loans — Third Mortgage Article X, Section 35(e)(2) Oklahoma Constitution does not supersede the limitation on the Oklahoma Industrial Finance Authority as to first and second mortgage liens as found in Article X, Section 34 Oklahoma Constitution, and no part of the Authority's loan may take a third mortgage position. The Attorney General has had under consideration your letter dated September 24, 1968, setting out the following facts: "The Oklahoma Industrial Finance Authority has recently approved a loan to the Pontotoc County Trust Authority, in the amount of…