Okla. Stat. tit. 70, § 70-1-118: Building and operations fund - Definition

The building fund of any school district shall consist of all

monies derived from the proceeds of a building fund levy of not to

exceed five (5) mills in any year, voted by the people of a school

district pursuant to the provisions of Article X, Section 10 of the

Oklahoma Constitution, monies appropriated by the state for the

purpose of capital expenditures or projects, monies allocated to a

school district by the State Board of Education from the State

Public Common School Building Equalization Fund and monies donated

to a school district for the purpose of capital projects or

improvements and may be used for erecting, remodeling, repairing or

maintaining school buildings, for purchasing furniture, equipment

and computer software to be used on or for school district property,

for repairing and maintaining computer systems and equipment, for

paying energy and utility costs, for purchasing telecommunications

utilities and services, for paying fire and casualty insurance

premiums for school facilities, for purchasing security systems, for

paying salaries of security personnel, for purchasing school buses,

or for one or more, or all, of such purposes. Proceeds of such

levies shall not be required to be used during the year for which a

levy is made but may accumulate from year to year until adequate for

the purposes intended. The building fund may also consist of monies

allocated to a school district via the federal Coronavirus Response

and Relief Supplemental Appropriation Act of 2021 (CRRSA) and the

federal American Rescue Plan Act of 2021 (ARP). The building fund

hereinabove defined is hereby declared to be a current expense fund,

but shall not be considered a part of the general operating fund.

No monies derived from the proceeds of the school levies made

pursuant to the provisions of Article X, Section 9 of the Oklahoma

Constitution may be placed in the building fund provided by this

section.