Okla. Stat. tit. 70, § 70-15-106
This is the official text of Okla. Stat. tit. 70, § 70-15-106, 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.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
Transportation equipment - Bonds
Official statutory text
Any school district that is authorized by law to provide
transportation for pupils to and from school may become indebted for
the purpose of purchasing transportation equipment and may issue its
bonds, as provided for by law, in any amount not exceeding, with
existing indebtedness, ten percent (10%) of the valuation of the
taxable property within the school district, as shown by the last
preceding assessment for state and county purposes previous to the
incurring of indebtedness. The bonds shall be made to mature within
a period not to exceed five (5) years from their date. It is hereby
declared that the use of the word "equipment" in Section 26, Article
Oklahoma Statutes - Title 70. Schools Page 682
X of the Oklahoma Constitution was intended to include the
"transportation equipment" referred to in this section.
transportation for pupils to and from school may become indebted for
the purpose of purchasing transportation equipment and may issue its
bonds, as provided for by law, in any amount not exceeding, with
existing indebtedness, ten percent (10%) of the valuation of the
taxable property within the school district, as shown by the last
preceding assessment for state and county purposes previous to the
incurring of indebtedness. The bonds shall be made to mature within
a period not to exceed five (5) years from their date. It is hereby
declared that the use of the word "equipment" in Section 26, Article
Oklahoma Statutes - Title 70. Schools Page 682
X of the Oklahoma Constitution was intended to include the
"transportation equipment" referred to in this section.
Status: in_force · Read it on the official government site
Need a lawyer in Oklahoma?
Find a Oklahoma lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.