Oklahoma § 19-902.12b Financing of improvements on pay-as-you-go basis.

Oklahoma Statutes

§ 19-902.12b — Financing of improvements on pay-as-you-go basis.

Oklahoma § 19-902.12b

Title 19Counties And County Officers

This text of Oklahoma § 19-902.12b (Financing of improvements on pay-as-you-go basis.) is published on Counsel Stack Legal Research, covering Oklahoma primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Okla. Stat. tit. 19, § 19-902.12b (2026).

Text

A.Nothing in this act shall prevent the board of directors from using the levy provided for in Section 902.15 of Title 19 of the Oklahoma Statutes for financing improvements on a pay-as-you-go basis provided the district has no outstanding bonds or other evidences of indebtedness. Pay-as-you-go improvements shall be subject to the assessment limits in Section 902.15 of Title 19 of the Oklahoma Statutes, shall be approved in the same manner as described in Section 902.12 of Title 19 of the Oklahoma Statutes and shall not be approved for more than the actual estimated cost of such purchase and construction. For the purposes of this section, “pay-as-you-go improvements” shall be defined as improvements that are constructed and paid for when necessary revenues are accumulated.

B.A district c

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A. Nothing in this act shall prevent the board of directors from using the levy provided for in Section 902.15 of Title 19 of the Oklahoma Statutes for financing improvements on a pay-as-you-go basis provided the district has no outstanding bonds or other evidences of indebtedness. Pay-as-you-go improvements shall be subject to the assessment limits in Section 902.15 of Title 19 of the Oklahoma Statutes, shall be approved in the same manner as described in Section 902.12 of Title 19 of the Oklahoma Statutes and shall not be approved for more than the actual estimated cost of such purchase and construction. For the purposes of this section, “pay-as-you-go improvements” shall be defined as improvements that are constructed and paid for when necessary revenues are accumulated. B. A district choosing to finance improvements on a pay-as-you- go basis shall not issue bonds or other evidences of indebtedness until a time following the financing and completion of pay-as-you-go improvements.