Oklahoma Statutes
§ 70-15-203 — Restriction on guarantee of bonds.
Oklahoma·Title 70 Schools
The Commissioners shall not approve bonds for guarantee if the approval would result in the total amount of outstanding guaranteed bonds to exceed an amount equal to twice the cost value or twice the market value of the assets of the permanent school fund whichever is lower, exclusive of real estate as calculated by the annual audit of the Commissioners of the Land Office.
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Legislative History
Added by Laws 1994, c. 346, § 3, eff. Nov. 8, 1994.
Nearby Sections
15
§ 70-1-1
Repealed§ 70-1-10
Repealed§ 70-1-101
Oklahoma School Code.§ 70-1-102
Purpose of act.§ 70-1-103
Act to be liberally construed.§ 70-1-107
Educational services - Enumeration.§ 70-1-108
School district - Definition.§ 70-1-109.1
Optional Extended School Year Program.§ 70-1-11
Repealed§ 70-1-110
Repealed