Oklahoma § 80-34.6 - State Surplus Property Revolving Fund

§ 80-34.6. State Surplus Property Revolving Fund

There is hereby created in the State Treasury a revolving fund

to be designated as the "State Surplus Property Revolving Fund"

which shall consist of all monies appropriated thereto by the

Legislature and all monies received by the Surplus Property Agent

from state departments, boards, commissions, institutions, and

agencies and from counties, cities, and towns, and school districts

and other authorized program participants as a reimbursement to the

state of monies spent in acquiring surplus property for such

entities, and for services to the entities. The State Surplus

Property Revolving Fund shall be a continuing fund, not subject to

fiscal year limitations, and shall be expended by the Surplus

Property Agent, under the supervision of the Director of the Office

of Management and Enterprise Services, for any expense incurred in

the handling, transportation, warehousing, distribution of surplus

property received by purchase or donation, including the purchase of

trucks and equipment, the salary of the Surplus Property Agent and

other employees' salaries, other necessary expenses incurred in

program administration and operation and expenses the Office of

Management and Enterprise Services incurs to support program

operations. Expenditures shall be made from the fund on claims

signed by the Surplus Property Agent and approved for payment by the

Director of the Office of Management and Enterprise Services.

Excess funds above the operational needs may be invested in any of

the types of instruments in which the State Treasurer is authorized

by law to invest. Interest earned shall be retained by the State

Oklahoma Statutes - Title 80. United States

Surplus Property Revolving Fund, and the funds may be expended by

the Office of Management and Enterprise Services to acquire,

improve, or maintain state agency surplus property facilities.

Added by Laws 1947, p. 620, § 6, emerg. eff. May 8, 1947. Amended

by Laws 1955, p. 467, § 1, emerg. eff. June 2, 1955; Laws 1959, p.

439, § 3, emerg. eff. July 8, 1959; Laws 1973, c. 46, § 5, operative

July 1, 1973; Laws 1983, c. 304, § 163, eff. July 1, 1983; Laws

2000, c. 218, § 9, eff. Nov. 1, 2000; Laws 2003, c. 372, § 14, eff.

July 1, 2003; Laws 2008, c. 352, § 4, eff. Nov. 1, 2008; Laws 2012,

c. 304, § 1060.