Okla. Stat. tit. 70, § 70-3206.6b
This is the official text of Okla. Stat. tit. 70, § 70-3206.6b, 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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Master lease program - Revolving lease fund
Official statutory text
Within the master lease program, the Legislature hereby
designates the sum of Twenty-five Million Dollars ($25,000,000.00)
to be a permanent revolving lease fund to be funded by bonds to be
issued under the master lease program. It is the intent of the
Legislature to make annual appropriations as may be necessary from
the Oklahoma Education Lottery Trust Fund to retire such bonded
indebtedness. Such bonds may be issued on either a taxable or tax-
exempt basis. The lien on such Lottery Trust Fund revenues may be
Oklahoma Statutes - Title 70. Schools Page 1422
subordinate to other pledges of revenue from this fund. Any bonds
issued pursuant to this section shall not be subject to the
provisions of Section 4 of Enrolled House Bill No. 1191 of the 1st
Session of the 50th Oklahoma Legislature.
designates the sum of Twenty-five Million Dollars ($25,000,000.00)
to be a permanent revolving lease fund to be funded by bonds to be
issued under the master lease program. It is the intent of the
Legislature to make annual appropriations as may be necessary from
the Oklahoma Education Lottery Trust Fund to retire such bonded
indebtedness. Such bonds may be issued on either a taxable or tax-
exempt basis. The lien on such Lottery Trust Fund revenues may be
Oklahoma Statutes - Title 70. Schools Page 1422
subordinate to other pledges of revenue from this fund. Any bonds
issued pursuant to this section shall not be subject to the
provisions of Section 4 of Enrolled House Bill No. 1191 of the 1st
Session of the 50th Oklahoma Legislature.
Status: in_force · Read it on the official government site
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