{"data":{"id":"us-ok/okla.-stat.-tit.-62-62-574","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 62, § 62-574","heading":"Publication of projects","body":"A. At any election upon the question of issuing bonds, which if\n\napproved would require an ad valorem tax levy or pledging the full\n\nfaith and credit of the State of Oklahoma, the governmental entity\n\ncalling such election shall set forth in each proposition to be\n\nvoted upon the general purpose for which the bond proceeds will be\n\nexpended. This shall not require the proposition or the bond to\n\nrecite specific projects and dollar amounts.\n\nB. At any election upon the question of issuing bonds, which if\n\napproved would require an ad valorem tax levy or pledging the full\n\nfaith and credit of the State of Oklahoma, the governmental entity\n\ncalling such election shall set forth in the call of election, in a\n\nlegally qualified newspaper of general circulation in the area\n\nwherein said bond issue proceeds are to be expended, a general\n\nstatement of all purposes and specific projects for which seventy\n\npercent (70%) of the proceeds shall be expended, with a further\n\nlisting of the dollar amounts to be expended on each specific\n\nproject. The dollar figure left unlisted as to specific projects\n\nshall not exceed thirty percent (30%) of the total amount of the\n\nbond issue.\n\nC. If any such bond issue is approved at an election, the\n\nparticular governmental entity shall expend all of the proceeds of\n\nsuch bond issue for the purposes set out in the proposition voted\n\nupon and shall expend not less than eighty-five percent (85%) of the\n\nmonies allocated to each specific project, unless such project can\n\nbe completed for a smaller amount of money, on that project as\n\npublished according to Section 4(B) of this act and for which the\n\nbond issue was approved. Provided, however, that if any money\n\nbecomes available from any source outside the bond proceeds for any\n\nspecific project, the outside funds would be used to reduce the\n\namount of bond funds to be expended on that specific project. In\n\nsuch event, the governmental entity may expend that amount less than\n\nthe specified eighty-five percent (85%) and may use the surplus\n\nfunds on other projects within the same general purpose or to reduce\n\nthe sinking fund. This section shall not apply in the event a final\n\njudicial determination or federal or state laws, regulations or\n\nrules preclude the undertaking or completion of a specific project.","path":["OK Code","Title 62"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os62.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"74024b1ba1c27210438e422931845193971d81db79051c1f965a131e6a88e7b5","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-62-62-573","next":"us-ok/okla.-stat.-tit.-62-62-575"},"notice":"GroundRules: Original legal text. Not legal advice."}