{"data":{"id":"us-ok/okla.-stat.-tit.-70-70-15-101","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 70, § 70-15-101","heading":"School buildings - Bonds","body":"Whenever it shall become necessary for the board of education of\n\nany school district to raise sufficient funds for the purchase of a\n\nschool site or sites, or to erect or purchase and equip a suitable\n\nschool building or buildings, either or both, or for the purpose of\n\nmaking repairs to an existing school building or buildings, or for\n\nthe purchase of school furniture and fixtures, or for making\n\nimprovements to any school site or sites, either or both, it shall\n\nbe lawful for such board of education to borrow money for which it\n\nis hereby authorized and empowered to issue bonds bearing a rate of\n\ninterest not exceeding seven percent (7%) per annum, payable\n\nsemiannually, at such place as may be shown on the face of such\n\nbonds, which bonds shall be payable serially as otherwise provided\n\nby law in not more than twenty-five (25) years from date; and the\n\nboard of education is hereby authorized and empowered to sell such\n\nbonds at not less than their par value; provided, before any bonds\n\nshall be issued, the board of education shall cause an election to\n\nbe held in such district as herein provided; provided, further,\n\nbonds may be voted in one issue and at the same election for any or\n\nall of the purposes hereinbefore enumerated.","path":["OK Code","Title 70"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os70.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"65a3ba9288d8888852b31a304f3ba67e4c16b52e291de9eac697073d22921104","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-70-70-14-201","next":"us-ok/okla.-stat.-tit.-70-70-15-102"},"notice":"GroundRules: Original legal text. Not legal advice."}