Oklahoma § 70-9007 - Election on district formation and millage rate – Bonds –

§ 70-9007. Election on district formation and millage rate – Bonds –

Special election – Election costs.

A. An election may be conducted in November of any evennumbered year in order to determine whether the proposed higher

education funding district shall be formed and its initial

operational millage rate, which shall not exceed the number of mills

as prescribed by Section 9B of Article X of the Oklahoma

Constitution. If the certified election results show that a sixty

percent (60%) majority of all votes cast are in favor of the

creation of the higher education funding district, the county

election board shall declare the district to have been established

and, if an initial operational millage was submitted to the voters

as part of the same ballot measure for creation of the district,

shall also declare such millage rate to be established for the

district.

B. If there are to be any bonds or other evidence of

indebtedness issued by the district contemporaneously approved at

Oklahoma Statutes - Title 70. Schools

the election calling for the formation of the district or at any

subsequent election called for the purposes of approving such bonds

or other evidence of indebtedness, such information as may be

required for the approval of a sinking fund millage rate as provided

by law shall also be included on the ballot, but the principal

amount of debt to be incurred, the projects to be constructed or

improved or acquired with the proceeds of the bonds, the maximum

maturity of the bonds and other information shall be included as

part of the ballot title if that question is submitted to the

voters.

C. A special election may be conducted in the manner prescribed

by Section 12-116 of Title 26 of the Oklahoma Statutes if the

question of the creation of the higher education funding district is

to be submitted at any other time than a General Election.

D. All costs for elections related to higher education funding

districts shall be paid for by the institution of higher education

for the benefit of which the district is being created or, after

approval of such district, for the benefit of which the district was

created.

Added by Laws 2022, c. 406, § 7.