{"data":{"id":"us-ok/okla.-stat.-tit.-70-70-4017","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 70, § 70-4017","heading":"Boards of regents for educational institutions -","body":"Contractual arrangements with public trusts - Capital expenditures.\n\nThe boards of regents for educational institutions who are\n\nmembers of The Oklahoma State System of Higher Education are\n\nauthorized to enter into loan agreements, investment agreements or\n\nother appropriate contractual arrangements, with any public trust\n\ncreated pursuant to Section 176 et seq. of Title 60 of the Oklahoma\n\nStatutes, which has the State of Oklahoma as its beneficiary. Said\n\nagreements may be entered into for the purpose of obtaining funds\n\nfrom such public trust to reimburse such educational institutions\n\nfor capital expenditures made by them, and such trusts are\n\nauthorized to provide such funds by issuing debt obligations\n\npursuant to the terms and in the manner provided for in the Public\n\nTrust Laws, Section 176 et seq. of Title 60 of the Oklahoma\n\nStatutes.\n\nCapital expenditures are defined as those capital expenditures\n\nallowed pursuant to Section 103 of the Internal Revenue Code of\n\n1954, as amended, to be financed with tax-exempt bonds or notes. If\n\nsuch loan agreement, investment agreement or other appropriate\n\ncontractual arrangement involves the repayment to such public trust\n\nof funds provided for capital expenditure reimbursement, the boards\n\nof regents of such educational institutions are authorized to\n\nprovide for the repayment with the income and revenues from any\n\nexisting revenue-producing buildings or facilities or from other\n\nincome and revenues legally available and permitted for such\n\npurpose, including, but not limited to, the interest, income and\n\nrentals derived from the Section Thirteen Fund and the New College\n\nFund, as provided for in Section 3904 of Title 70 of the Oklahoma\n\nStatutes.\n\nIt is the legislative intent that such income and revenues can\n\nbe utilized by the boards of regents to the repayment, if necessary,\n\nof reimbursed capital expenditure funds received from such public\n\ntrust. The boards of regents of such educational institutions are\n\nauthorized to enter into contractual agreements with such financial\n\ninstitutions as may be necessary for such public trusts to issue the\n\ndebt obligations contemplated herein. Said contractual agreements\n\nshall include, but not be limited to, investment contracts pursuant\n\nto which the State Treasurer is authorized to, and shall invest fund\n\nbalances of such educational institutions.","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":"129216652ade065ace141d32bcd2e9e77009043a6ebdae0ac84c0aa697e0dd80","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-70-70-4016","next":"us-ok/okla.-stat.-tit.-70-70-4018"},"notice":"GroundRules: Original legal text. Not legal advice."}