Okla. Stat. tit. 19, § 19-902.12b
This is the official text of Okla. Stat. tit. 19, § 19-902.12b, part of Oklahoma’s Stat. tit. 19, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 19,." Browse the sections below, each linked to its official government source.
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Financing of improvements on pay-as-you-go basis
Official statutory text
A. Nothing in this act shall prevent the board of directors
from using the levy provided for in Section 902.15 of Title 19 of
the Oklahoma Statutes for financing improvements on a pay-as-you-go
basis provided the district has no outstanding bonds or other
evidences of indebtedness. Pay-as-you-go improvements shall be
subject to the assessment limits in Section 902.15 of Title 19 of
the Oklahoma Statutes, shall be approved in the same manner as
described in Section 902.12 of Title 19 of the Oklahoma Statutes and
shall not be approved for more than the actual estimated cost of
such purchase and construction. For the purposes of this section,
“pay-as-you-go improvements” shall be defined as improvements that
are constructed and paid for when necessary revenues are
accumulated.
B. A district choosing to finance improvements on a pay-as-you-
go basis shall not issue bonds or other evidences of indebtedness
until a time following the financing and completion of pay-as-you-go
improvements.
Oklahoma Statutes - Title 19. Counties and County Officers Page 463
from using the levy provided for in Section 902.15 of Title 19 of
the Oklahoma Statutes for financing improvements on a pay-as-you-go
basis provided the district has no outstanding bonds or other
evidences of indebtedness. Pay-as-you-go improvements shall be
subject to the assessment limits in Section 902.15 of Title 19 of
the Oklahoma Statutes, shall be approved in the same manner as
described in Section 902.12 of Title 19 of the Oklahoma Statutes and
shall not be approved for more than the actual estimated cost of
such purchase and construction. For the purposes of this section,
“pay-as-you-go improvements” shall be defined as improvements that
are constructed and paid for when necessary revenues are
accumulated.
B. A district choosing to finance improvements on a pay-as-you-
go basis shall not issue bonds or other evidences of indebtedness
until a time following the financing and completion of pay-as-you-go
improvements.
Oklahoma Statutes - Title 19. Counties and County Officers Page 463
Status: in_force · Read it on the official government site
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