Oklahoma Administrative Code
Title 385 - Department of the Commissioners of the Land Office
Chapter 40 - Guarantee Program for School District Bonds
Section 385:40-1-3 - Application
Universal Citation: OK Admin Code 385:40-1-3
Current through Vol. 42, No. 7, December 16, 2024
(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.
Added at 13 Ok Reg 641, eff 11-29-95 (emergency); Added at 13 Ok Reg 1373, eff 5-13-96
Disclaimer: These regulations may not be the most recent version. Oklahoma may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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