§ 70-1-118.1. Building fund – Technology center school districts.

The building fund of any technology center school district shall consist of all monies derived from the proceeds of a building fund levy not to exceed five (5) mills in any year, voted by the people of a school district pursuant to the provisions of Section 10 of Article X of the Oklahoma Constitution, monies appropriated by the state for the purpose of capital expenditures or projects, and monies donated to a school district for the purpose of capital projects or improvements and may be used for purchasing, providing, erecting, remodeling, repairing or maintaining any of the following: school buildings, furniture, computer systems and equipment, software for instructional and noninstructional purposes, energy and utility costs, telecommunications utilities and services, fire and casualty insurance premiums for school facilities, security, student transportation, grounds maintenance including parking lots and sidewalks, instructional and maintenance equipment, or for one or more, or all, of these purposes.  Proceeds of the levies shall not be required to be used during the year for which a levy is made but may accumulate from year to year until adequate for the purposes intended.  The building fund defined in this section is hereby declared to be a current expense fund, but shall not be considered a part of the general operating fund.  No monies derived from the proceeds of the school levies made pursuant to the provisions of Section 9B of Article X of the Oklahoma Constitution may be placed in the building fund provided by this section.

Added by Laws 1994, c. 167, § 1, eff. July 1, 1994.  Amended by Laws 1995, c. 257, § 1, emerg. eff. May 25, 1995; Laws 2001, c. 33, § 66, eff. July 1, 2001; Laws 2010, c. 297, § 2, emerg. eff. June 6, 2010; Laws 2012, c. 234, § 1, eff. July 1, 2012.