Oklahoma Administrative Code
Title 385 - Department of the Commissioners of the Land Office
Chapter 40 - Guarantee Program for School District Bonds
Section 385:40-1-5 - Rating

Universal Citation: OK Admin Code 385:40-1-5

Current through Vol. 42, No. 1, September 16, 2024

(a) The applicant school district shall provide all information and documentation to any bond rating agency and potential bond purchaser for establishment of the bond rating of the issue and/or sale of the bond issue.

(b) The CLO may limit approval of the guarantee to those districts which have a rating below the "AAA" category by a recognized municipal bond rating service. When a rating is issued by more than one service, the lower of the two ratings shall be used to determine whether or not the school district is eligible for the guarantee.

(c) Any fee charged by a rating agency in connection with the guarantee of a bond issue by CLO will be paid by the school district.

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.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.