Opinion No. 55-1013

Oklahoma Attorney General Reports

Opinion No. 55-1013

DecidedOctober 13, 1955

StatusPublished

This text of Opinion No. 55-1013 (Opinion No. 55-1013) is published on Counsel Stack Legal Research, covering Oklahoma Attorney General Reports primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

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Opinion No. 55-1013, (Okla. Super. Ct. 1955).

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Opinion

OPINION — AG — (1) THE INTEREST AND PROFITS REALIZED FROM INVESTED PROCEEDS OF BUILDING FUND LEVIES OF A SCHOOL DISTRICT SHOULD BE DISPOSED IN THE BUILDING FUND OF THE SCHOOL DISTRICT AND ARE NOT GOVERNED BY SECT. 1 OF HOUSE BILL NO. 810 AND SHOULD NOT BE PLACED IN THE SINKING FUND OF THE DISTRICT. (2) MONIES RECEIVED BY A SCHOOL DISTRICT FROM THE FOUR MILL COUNTY WIDE LEVY BY ARTICLE X, SECTION 9(B) OKLAHOMA CONSTITUTION, SHOULD, WHEN COLLECTED, NOT " BE APPORTIONED AND CREDITED TO THE FISCAL YEAR IN WHICH SUCH TAXES WERE " LEVIED ", BUT SHOULD BE "TREATED AS REVENUE OTHER THAN AD VALOREM TAXES (GENERALLY REFERRED TO AS MISCELLANEOUS REVENUE) AND BE APPORTIONED AND CREDITED TO THE FISCAL YEAR IN WHICH THE SAME WAS RECEIVED". CITE: 62 O.S.H. 348.1, 70 O.S.H. 1-20 (J. H. JOHNSON)

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OPINION — AG — (1) THE INTEREST AND PROFITS REALIZED FROM INVESTED PROCEEDS OF BUILDING FUND LEVIES OF A SCHOOL DISTRICT SHOULD BE DISPOSED IN THE BUILDING FUND OF THE SCHOOL DISTRICT AND ARE NOT GOVERNED BY SECT. 1 OF HOUSE BILL NO. 810 AND SHOULD NOT BE PLACED IN THE SINKING FUND OF THE DISTRICT. (2) MONIES RECEIVED BY A SCHOOL DISTRICT FROM THE FOUR MILL COUNTY WIDE LEVY BY ARTICLE X, SECTION 9(B) OKLAHOMA CONSTITUTION, SHOULD, WHEN COLLECTED, NOT " BE APPORTIONED AND CREDITED TO THE FISCAL YEAR IN WHICH SUCH TAXES WERE " LEVIED ", BUT SHOULD BE "TREATED AS REVENUE OTHER THAN AD VALOREM TAXES (GENERALLY REFERRED TO AS MISCELLANEOUS REVENUE) AND BE APPORTIONED AND CREDITED TO THE FISCAL YEAR IN WHICH THE SAME WAS RECEIVED". CITE: 62 O.S.H. 348.1, 70 O.S.H. 1-20 (J. H. JOHNSON)

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Opinion No. 55-1013, Counsel Stack Legal Research, https://law.counselstack.com/opinion/opinion-no-55-1013-oklaag-1955.