{"data":{"id":"us-ok/okla.-stat.-tit.-19-19-347","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 19, § 19-347","heading":"Certificates of indebtedness - Limitation of amount,","body":"annual expenditure or indebtedness – Warrants - Limitation of\n\nalterations to computer software.\n\nA. With respect to counties seeking cash-flow management during\n\nany fiscal year, any county may issue and deliver certificates of\n\nindebtedness bearing a stated maturity date for the purpose of\n\nparticipating in a short-term cash management program pursuant to\n\nthe provisions of Section 177.2 of Title 60 of the Oklahoma Statutes\n\nto fund the estimated costs of operations, capital expenditures or\n\nother lawful costs of the county, or any of its public trusts as\n\noperator of its property, for the current fiscal year. The proceeds\n\nof certificates of indebtedness shall be set aside in a separate\n\naccount and used only for the purpose of meeting expenditures and\n\nobligations which would otherwise be lawfully payable from the\n\nrevenue certified by the county excise board. As proceeds from the\n\ncertificates are used to pay such lawful expenditures and\n\nobligations, the financial records of the county shall reflect the\n\namounts of these obligations paid with such proceeds so that a like\n\namount of revenue collected and available to the county may be used\n\nto repay the certificates of indebtedness, in whole or in part. The\n\nState Auditor and Inspector shall adopt uniform accounting\n\nprocedures for use by the counties to ensure that the issuance of\n\ncertificates of indebtedness and the use of the proceeds derived\n\nfrom these certificates will be documented and will not result in a\n\ndistrict overspending its authorized budget. All certificates of\n\nindebtedness shall be issued, delivered and registered for payment\n\nin the specific manner designated by the State Auditor and\n\nInspector; provided, any such certificates of indebtedness shall be\n\nmade payable on any date within the then current fiscal year and may\n\nbe purchased for value through the funding of uncollateralized\n\ninvestments made for the benefit of and on behalf of the county.\n\nShort-term cash management programs of any county may lawfully\n\nprovide for the investment of note, bond or certificate proceeds by\n\nthe issuer of the obligations with the benefit and use of such\n\nproceeds assured to the county when needed by the county. Monies\n\nremaining in any such investment agreement or investments may be\n\napplied to or credited for the payment of the certificate of\n\nindebtedness by trust instruction when due in a like and similar\n\nmanner provided for the transfer of monies by subsection J of\n\nSection 5-135 of Title 70 of the Oklahoma Statutes. In no case may\n\na county participate in a short-term cash management program in any\n\ngiven fiscal year beyond that fiscal year. Monies received by a\n\ncounty pursuant to a short-term cash management program may be used\n\nonly for those purposes for which other monies of the county may be\n\nlawfully expended.\n\nB. It shall be unlawful for the board of county commissioners\n\nto issue any certificate of indebtedness, in any form, in payment of\n\nor representing or acknowledging any account, claim, or indebtedness\n\nagainst the county, or to make any contracts for or incur any\n\nindebtedness against the county in excess of the amount then\n\nunexpended and unencumbered of the sum appropriated for the specific\n\nitem of estimated needs for such purpose theretofore made,\n\nsubmitted, and approved or authorized for such purpose by a bond\n\nissue. All warrants upon the county treasurer, for a county\n\npurpose, shall be issued upon the order of the board of county\n\ncommissioners, drawn by the county clerk, signed by the chairman of\n\nthe board, and attested by the signature of the county clerk, with\n\nthe county seal attached. Each warrant shall designate the fund,\n\ndepartment and appropriation account, and shall further show the\n\nnature of the indebtedness acknowledged by the allowance of the\n\nclaim so paid.\n\nC. Whenever a county officer holding an elective office will\ners, drawn by the county clerk, signed by the chairman of\n\nthe board, and attested by the signature of the county clerk, with\n\nthe county seal attached. Each warrant shall designate the fund,\n\ndepartment and appropriation account, and shall further show the\n\nnature of the indebtedness acknowledged by the allowance of the\n\nclaim so paid.\n\nC. Whenever a county officer holding an elective office will\n\nnot immediately serve a succeeding term in the same office, it shall\n\nbe unlawful for the board of county commissioners, during the first\n\nsix (6) months of the fiscal year in which said term of office\n\nexpires, to approve claims for the operation of said office totaling\n\nin excess of one-half (1/2) the amount allocated for the operation\n\nof said office during said fiscal year, unless approval in writing\n\nis obtained from the county excise board, and any claim in excess\n\nthereof and any warrant issued pursuant thereto shall be null and\n\nvoid.\n\nD. It shall also be unlawful for a county officer holding\n\nelective office who will not immediately serve a succeeding term in\n\nthe same office to make any changes or alterations in the licensing\n\nor source code of computer software currently being used.","path":["OK Code","Title 19"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os19.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"982fab02747b9404fd1910d0e28090d95471c68ff001b2c82a51eba43a08d3f4","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-19-19-346","next":"us-ok/okla.-stat.-tit.-19-19-348"},"notice":"GroundRules: Original legal text. Not legal advice."}