{"data":{"id":"us-ok/okla.-stat.-tit.-70-70-821.6","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 70, § 70-821.6","heading":"Operation of project by lessee or operator","body":"In the discretion of the governing body of such independent\n\nschool district (or within the discretion of the board of trustees,\n\nif the Project is under control of a board of trustees) and for such\n\nperiod of time as may be determined by such governing body or board\n\nof trustees, such Project may be operated by, or leased for\n\noperation to, a company, corporation, or individual, provided that\n\nthe fees, rent and tolls or rates charged for admission or use of\n\nthe Project shall be sufficient to yield in the aggregate money\n\nnecessary to pay the reasonable operation and maintenance expenses,\n\nthe annual consideration of rental, and a reasonable return to the\n\nlessee or operator. The charges and tolls or rates to be charged by\n\nsuch lessee or operator shall be under the control of the governing\n\nbody of the independent school district or such board of trustees as\n\nthe case may be. The annual consideration or lease rental to be\n\ncharged by the independent school district shall not be less than an\n\namount equal to the annual debt service requirements, plus an\n\nadditional amount to assure establishment and maintenance of the\n\nreserves required in such resolution or Indenture. The operating or\n\nlease contract may provide for payment of the annual consideration\n\nor rental in monthly installments approximately equal, and that\n\nfailure to pay any required sum when due may be declared to be a\n\nbreach of contract entitling the independent school district (or\n\nboard of trustees), under regulations prescribed therein, to declare\n\nthe lease or operating contract forfeited and to take over the\n\noperation and maintenance of such Project.","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":"9e9e621a4f5549d30742ef3eb20a07462f4b2ac1339e0e6676de27abf75031a3","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-70-70-821.51","next":"us-ok/okla.-stat.-tit.-70-70-821.7"},"notice":"GroundRules: Original legal text. Not legal advice."}