Okla. Stat. tit. 70, § 70-15-101
This is the official text of Okla. Stat. tit. 70, § 70-15-101, part of Oklahoma’s Stat. tit. 70, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 70,." Browse the sections below, each linked to its official government source.
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School buildings - Bonds
Official statutory text
Whenever it shall become necessary for the board of education of
any school district to raise sufficient funds for the purchase of a
school site or sites, or to erect or purchase and equip a suitable
school building or buildings, either or both, or for the purpose of
making repairs to an existing school building or buildings, or for
the purchase of school furniture and fixtures, or for making
improvements to any school site or sites, either or both, it shall
be lawful for such board of education to borrow money for which it
is hereby authorized and empowered to issue bonds bearing a rate of
interest not exceeding seven percent (7%) per annum, payable
semiannually, at such place as may be shown on the face of such
bonds, which bonds shall be payable serially as otherwise provided
by law in not more than twenty-five (25) years from date; and the
board of education is hereby authorized and empowered to sell such
bonds at not less than their par value; provided, before any bonds
shall be issued, the board of education shall cause an election to
be held in such district as herein provided; provided, further,
bonds may be voted in one issue and at the same election for any or
all of the purposes hereinbefore enumerated.
any school district to raise sufficient funds for the purchase of a
school site or sites, or to erect or purchase and equip a suitable
school building or buildings, either or both, or for the purpose of
making repairs to an existing school building or buildings, or for
the purchase of school furniture and fixtures, or for making
improvements to any school site or sites, either or both, it shall
be lawful for such board of education to borrow money for which it
is hereby authorized and empowered to issue bonds bearing a rate of
interest not exceeding seven percent (7%) per annum, payable
semiannually, at such place as may be shown on the face of such
bonds, which bonds shall be payable serially as otherwise provided
by law in not more than twenty-five (25) years from date; and the
board of education is hereby authorized and empowered to sell such
bonds at not less than their par value; provided, before any bonds
shall be issued, the board of education shall cause an election to
be held in such district as herein provided; provided, further,
bonds may be voted in one issue and at the same election for any or
all of the purposes hereinbefore enumerated.
Status: in_force · Read it on the official government site
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