Okla. Stat. tit. 70, § 70-3912
This is the official text of Okla. Stat. tit. 70, § 70-3912, 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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Commingling of certain funds prohibited - Separate
Official statutory text
accounting of funds - Uses of certain income of certain school
districts limited.
(a) Neither the ad valorem funds received by a local school
district which operates an institution of higher education nor the
ad valorem funds received by a technical area school district shall
be mingled with the funds of any institution of higher education.
(b) The board of education of a school district which, acting
as a board of trustees, governs an institution of higher education
shall state the assets, liabilities, income and expenditures of the
institution as an entity distinct from the local school district.
The income of the school district shall not be used for any purpose
other than the education of the residents of the district.
(c) The board of trustees of a technical area school district
operated in accordance with Section 4423 of Title 70 of the Oklahoma
Statutes shall state the assets, liabilities, income, and
expenditures of the district as an entity distinct from the
institution of higher education which the members of the board of
trustees, acting as the board of regents of the institution, also
govern. The income of the technical area district shall be used for
no other purpose than the provision of postsecondary technical
education to the residents of the district; provided, nothing herein
shall be construed as precluding the board members, with proper
regard for their respective responsibilities as trustees and as
regents, from making or approving agreements whereby the district
and the institution, by appropriate written contract, utilize the
same facilities, equipment, and services.
districts limited.
(a) Neither the ad valorem funds received by a local school
district which operates an institution of higher education nor the
ad valorem funds received by a technical area school district shall
be mingled with the funds of any institution of higher education.
(b) The board of education of a school district which, acting
as a board of trustees, governs an institution of higher education
shall state the assets, liabilities, income and expenditures of the
institution as an entity distinct from the local school district.
The income of the school district shall not be used for any purpose
other than the education of the residents of the district.
(c) The board of trustees of a technical area school district
operated in accordance with Section 4423 of Title 70 of the Oklahoma
Statutes shall state the assets, liabilities, income, and
expenditures of the district as an entity distinct from the
institution of higher education which the members of the board of
trustees, acting as the board of regents of the institution, also
govern. The income of the technical area district shall be used for
no other purpose than the provision of postsecondary technical
education to the residents of the district; provided, nothing herein
shall be construed as precluding the board members, with proper
regard for their respective responsibilities as trustees and as
regents, from making or approving agreements whereby the district
and the institution, by appropriate written contract, utilize the
same facilities, equipment, and services.
Status: in_force · Read it on the official government site
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