Oklahoma § 70-3206.6b Master lease program - Revolving lease fund.

Oklahoma Statutes

§ 70-3206.6b — Master lease program - Revolving lease fund.

Oklahoma § 70-3206.6b

Title 70Schools

This text of Oklahoma § 70-3206.6b (Master lease program - Revolving lease fund.) 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. 70, § 70-3206.6b (2026).

Text

Within the master lease program, the Legislature hereby designates the sum of Twenty-five Million Dollars ($25,000,000.00) to be a permanent revolving lease fund to be funded by bonds to be issued under the master lease program. It is the intent of the Legislature to make annual appropriations as may be necessary from the Oklahoma Education Lottery Trust Fund to retire such bonded indebtedness. Such bonds may be issued on either a taxable or tax- exempt basis. The lien on such Lottery Trust Fund revenues may be subordinate to other pledges of revenue from this fund. Any bonds issued pursuant to this section shall not be subject to the provisions of Section 4 of Enrolled House Bill No. 1191 of the 1st Session of the 50th Oklahoma Legislature.

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Within the master lease program, the Legislature hereby designates the sum of Twenty-five Million Dollars ($25,000,000.00) to be a permanent revolving lease fund to be funded by bonds to be issued under the master lease program. It is the intent of the Legislature to make annual appropriations as may be necessary from the Oklahoma Education Lottery Trust Fund to retire such bonded indebtedness. Such bonds may be issued on either a taxable or tax- exempt basis. The lien on such Lottery Trust Fund revenues may be subordinate to other pledges of revenue from this fund. Any bonds issued pursuant to this section shall not be subject to the provisions of Section 4 of Enrolled House Bill No. 1191 of the 1st Session of the 50th Oklahoma Legislature.