Oklahoma § 70-15-206 Requirements for districts applying for guarantee.

Oklahoma Statutes

§ 70-15-206 — Requirements for districts applying for guarantee.

Oklahoma·Title 70 Schools

A.Any district applying to utilize the provisions of this act for its bonded indebtedness shall: 1. Be certified to be in good standing and be accredited without probation by the State Board of Education; 2. Verify to the Commissioners that the bond issue involved is within any limitation provided by law; 3. Comply with such criteria or other requirements deemed necessary by the Commissioners; and 4. Fully comply with all provisions of the rules promulgated by the Commissioners pursuant to this act.

B.No guarantee of bonds shall be effective unless approved by a majority of the Commissioners.

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A. Any district applying to utilize the provisions of this act for its bonded indebtedness shall: 1. Be certified to be in good standing and be accredited without probation by the State Board of Education; 2. Verify to the Commissioners that the bond issue involved is within any limitation provided by law; 3. Comply with such criteria or other requirements deemed necessary by the Commissioners; and 4. Fully comply with all provisions of the rules promulgated by the Commissioners pursuant to this act. B. No guarantee of bonds shall be effective unless approved by a majority of the Commissioners.

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