Oklahoma Statutes (Last Updated: September 18, 2014)

§ 70-15-203. Restriction on guarantee of bonds.

Latest version.

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.

Added by Laws 1994, c. 346, § 3, eff. Nov. 8, 1994.

                    
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