Okla. Admin. Code § 385:40-1-3

Current through Vol. 42, No. 4, November 1, 2024

Section 385:40-1-3 - Application

(a) The school district shall apply on a form devised by the staff of the CLO and the CLO's review shall include but not be limited to the following.

(1) The name of the school district;

(2) The amount of the bond to be issued;

(3) The maturity schedule, the estimated interest rate and the date of the bonds;

(4) The purpose of the bond issue;

(5) A statement of the district's financial status and stability, including the district's past history and performance of other bond issues;

(6) A certification by the State Department of Education of the school district's good standing and accreditation without probation.

(7) Verification by the school district bond counsel or the Attorney General that the bond issue is within any limitations provided by law. (This verification must be submitted prior to closing of the bond issue).

(8) Certification by the School District Board that the CLO apportionment funds will not be used either directly or indirectly for payment of principal or interest on the bond.

(b) Application shall be submitted to the CLO at least 20 days prior to any regularly scheduled meeting of the CLO.

Okla. Admin. Code § 385:40-1-3

Added at 13 Ok Reg 641, eff 11-29-95 (emergency); Added at 13 Ok Reg 1373, eff 5-13-96