Okla. Stat. tit. 70, § 70-9010
This is the official text of Okla. Stat. tit. 70, § 70-9010, 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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Revenues – General fund of institution – Authorized
Official statutory text
expenditures.
A. All revenues derived from the net assessed value of property
located within the boundary of the higher education funding district
shall be paid by the county treasurer to the general fund of the
eligible institution or to such fund as may be specified by the
board of regents for the institution, and the board of regents for
Oklahoma Statutes - Title 70. Schools Page 1698
the institution shall be authorized to expend such revenues in
support of the operational expenses of the institution, including,
without limitation, employee salaries, employee benefits, including
retirement benefits and health care benefits, federal or state
income or withholding taxes or related payroll taxes, utility costs,
insurance expenses, books, electronic instructional materials,
supplies for classrooms, upkeep of grounds and landscaping,
maintenance of physical plants such as heating and air conditioning
units, acquisition and maintenance of motor vehicles and such other
expenditures as may be approved by the board of regents pursuant to
such standards and procedures as the board of regents may establish.
B. None of the revenues derived from any millage rate imposed
within the boundary of a higher education funding district may be
used by an institution within The Oklahoma State System of Higher
Education to compete with the services or programs offered by any
existing career technology district which is either contiguous to
the boundary of the higher education funding district or located in
sufficiently close proximity to the higher education funding
district that the programs or services offered by such career
technology district would be duplicated or adversely impacted by the
expenditure of funds by the institution which causes the formation
of the higher education funding district pursuant to the provisions
of this act.
C. The Oklahoma State Regents for Higher Education shall not
take into consideration revenues derived from any millage levy
imposed pursuant to the provisions of the Higher Education
Institution Local Funding Act when allocating state-appropriated
funds for support of the institution which established a higher
education funding district pursuant to the provisions of this act.
A. All revenues derived from the net assessed value of property
located within the boundary of the higher education funding district
shall be paid by the county treasurer to the general fund of the
eligible institution or to such fund as may be specified by the
board of regents for the institution, and the board of regents for
Oklahoma Statutes - Title 70. Schools Page 1698
the institution shall be authorized to expend such revenues in
support of the operational expenses of the institution, including,
without limitation, employee salaries, employee benefits, including
retirement benefits and health care benefits, federal or state
income or withholding taxes or related payroll taxes, utility costs,
insurance expenses, books, electronic instructional materials,
supplies for classrooms, upkeep of grounds and landscaping,
maintenance of physical plants such as heating and air conditioning
units, acquisition and maintenance of motor vehicles and such other
expenditures as may be approved by the board of regents pursuant to
such standards and procedures as the board of regents may establish.
B. None of the revenues derived from any millage rate imposed
within the boundary of a higher education funding district may be
used by an institution within The Oklahoma State System of Higher
Education to compete with the services or programs offered by any
existing career technology district which is either contiguous to
the boundary of the higher education funding district or located in
sufficiently close proximity to the higher education funding
district that the programs or services offered by such career
technology district would be duplicated or adversely impacted by the
expenditure of funds by the institution which causes the formation
of the higher education funding district pursuant to the provisions
of this act.
C. The Oklahoma State Regents for Higher Education shall not
take into consideration revenues derived from any millage levy
imposed pursuant to the provisions of the Higher Education
Institution Local Funding Act when allocating state-appropriated
funds for support of the institution which established a higher
education funding district pursuant to the provisions of this act.
Status: in_force · Read it on the official government site
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