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Board adopts resolution authorizing $475,000 General Obligation Building Bonds
Summary
Board approved a resolution that prescribes bond form, registration, maturity, tax levy and related procedures; the resolution requires filing a certified transcript with the Attorney General for approval.
The board adopted a resolution authorizing $475,000 in General Obligation Building Bonds of 2026 and prescribing detailed forms, registration procedures and the levy of an annual tax to pay principal and interest. The resolution references Section 26, Article X of the Oklahoma Constitution and Title 70, Chapter XV of the Oklahoma Statutes as legal authority for issuing the bonds.
The resolution spells out that the bonds will be dated July 1, 2026, mature July 1, 2028, are issuable in denominations of $1,000, and require registration and authentication by UMB Bank, n.a., Oklahoma City, as the registrar/payor. It also directs district officers to present a certified transcript and request approval from the Attorney General, ex officio Bond Commissioner, before delivery to purchasers.
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