Okla. Stat. tit. 47, § 47-1104.31: Elk City Education Foundation License Plate Revolving

Fund.

A. Twenty Dollars ($20.00) of the fee authorized by Section

1135.5 of Title 47 of the Oklahoma Statutes for the Elk City

Education Foundation plates shall be deposited by Service Oklahoma

to the Elk City Education Foundation License Plate Revolving Fund

created in subsection B of this section.

B. There is hereby created in the State Treasury a revolving

fund for the State Department of Education to be designated the “Elk

City Education Foundation License Plate Revolving Fund”. The fund

shall consist of all monies received pursuant to subsection A of

this section. All monies accruing to the credit of the fund are

hereby appropriated and may be budgeted and expended by the State

Department of Education for grants to the Elk City Education

Foundation to fund scholarships and teacher grants to Elk City

School District’s students and teachers. Expenditures from the fund

shall be made upon warrants issued by the State Treasurer against

claims filed as prescribed by law with the Director of the Office of

Management and Enterprise Services for approval and payment.