Okla. Stat. tit. 70, § 70-15-103: Electors - Qualifications

On the question of issuance of said bonds, no person shall be

qualified to vote unless he be in all respects a school district

elector of such district. In case three-fifths (3/5) of the voters

thereof voting at such election shall vote affirmatively for the

issuance of said bonds, then the said board of education shall issue

the same and not otherwise. The amount of the bonds so voted upon

and issued shall not cause the school district to become indebted in

an amount, including existing indebtedness, in the aggregate

exceeding five percent (5%) of the valuation of the taxable property

therein, to be ascertained from the last assessment for state and

county purposes previous to the incurring of such indebtedness; but

if the school district has an absolute need therefor, such district

may, with the assent of three-fifths (3/5) of the voters thereof,

voting at such election, incur indebtedness to an amount, including

existing indebtedness, in the aggregate exceeding five percent (5%)

but not exceeding ten percent (10%) of the valuation of the taxable

property therein, to be ascertained from the last assessment for

state and county purposes previous to the incurring of such

indebtedness, for the purpose of acquiring or improving school

sites, constructing, repairing, remodeling or equipping buildings or

acquiring school furniture, fixtures or equipment or more than one

or all of such purposes; and such assent to such indebtedness shall

be deemed to be a sufficient showing of such absolute need. Section

26, Article X, of the Oklahoma Constitution, as amended on April 5,

1955, shall hereafter be in full force and effect. Provided, that

any bond election that shall have heretofore been called or held in

accordance with the provisions of Section 26, Article X, of the

Oklahoma Constitution, as amended on April 5, 1955, is hereby

validated if the bonds so authorized at such election have not yet

been sold and delivered.