§ 69-1503. Money for use on county roads - County highway fund.

(a) All monies raised for use on the county highways in each county, or apportioned to each county for road purposes, from any source, including all funds and monies derived by law, levy, taxation, or apportionment shall, unless otherwise provided by law, be placed in the county treasury in a fund to be known as the county highway fund, to be expended on order of the board of county commissioners on county highways as defined herein, or on state highways within their respective counties including the lighting thereof, if, in the judgment of the board of county commissioners, such expenditure would be just and equitable and for the best interest of the county.

(b) When state or federal funds are available for assistance in constructing county roads or bridges, the board of county commissioners of any county may place on deposit with the commission such funds from the county highway fund, special highway funds and proceeds of county bond issues as may be necessary to obtain such state or federal funds, and the commission shall have authority to accept such county funds and bond monies and to use the same for the construction of county roads or bridges in the county depositing the funds, pursuant to contract agreement with the board of county commissioners of such county; provided, that the proceeds of any county bond issue so deposited with the commission may be used by the commission only for the designated purposes for which the bonds were issued.

(c) All monies remaining in a county highway fund created by 69 O.S.1961, Section 44(e), and all other assets thereof, and all taxes, revenue and other funds payable to or required to be deposited in such fund under the provisions of other laws, when this Code becomes effective, shall be transferred to, be deposited in and be a part of the county highway fund created by this section in the same county; and the latter fund shall be liable for the payment of all outstanding obligations existing against the former fund.

Laws 1968, c. 415, § 1503, operative July 1, 1968; Laws 1977, c. 19, § 1, eff. May 20, 1977.