Okla. Stat. tit. 68, § 68-3034.2
This is the official text of Okla. Stat. tit. 68, § 68-3034.2, part of Oklahoma’s Stat. tit. 68, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 68,." Browse the sections below, each linked to its official government source.
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Capital reserve fund
Official statutory text
A. As used in this act, a "capital reserve fund" shall be a
cash account, which may be used to pay for long-term capital needs
of the county. The capital reserve fund shall be funded from the
general budget or other legal source. The balance of the capital
reserve fund shall not be part of the general budget within the
estimate of needs but shall be recorded on the estimate of needs as
a special fund. When the county has excess funds, the county may by
resolution deposit the funds in the capital reserve fund. However,
after the funds are so transferred, they are not transferable back
to the original source.
B. Expenditures may be made out of the capital reserve fund as
needed and determined by the board of authority. Expenditures are
limited to county facilities. Such expenditures must be spent in
accordance with Section 1500 et seq. of Title 19 of the Oklahoma
Statutes.
C. The Office of the State Auditor and Inspector may establish
proper documents and procedures.
cash account, which may be used to pay for long-term capital needs
of the county. The capital reserve fund shall be funded from the
general budget or other legal source. The balance of the capital
reserve fund shall not be part of the general budget within the
estimate of needs but shall be recorded on the estimate of needs as
a special fund. When the county has excess funds, the county may by
resolution deposit the funds in the capital reserve fund. However,
after the funds are so transferred, they are not transferable back
to the original source.
B. Expenditures may be made out of the capital reserve fund as
needed and determined by the board of authority. Expenditures are
limited to county facilities. Such expenditures must be spent in
accordance with Section 1500 et seq. of Title 19 of the Oklahoma
Statutes.
C. The Office of the State Auditor and Inspector may establish
proper documents and procedures.
Status: in_force · Read it on the official government site
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