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§ 37. Bond issue for capital improvements at state institutions

Oklahoma Statutes AnnotatedConstitution of the State of Oklahoma [Annotated]

Oklahoma Statutes Annotated
Constitution of the State of Oklahoma [Annotated] (Refs & Annos)
Article X. .--Revenue and Taxation
Public Indebtedness
OK Const. Art. 10, § 37
§ 37. Bond issue for capital improvements at state institutions
Currentness
The Legislature of the State of Oklahoma is hereby authorized to enact necessary legislation whereby the State may become indebted in an amount not to exceed Fifty-Four Million Seven Hundred Fifty Thousand Dollars ($54,750,000.00) for the purpose of constructing new buildings and other capital improvements for remodeling, modernizing and repairing any and all existing buildings and capital improvements and purchase of land, equipment and furnishings necessary for such new construction or remodeling for the following departments of state government in the amounts and for the purposes indicated as follows:
Oklahoma State Regents for Higher Education for Expenditures at all Constituent Institutions
 
 
$38,500,000.00
Department of Mental Health for Expenditures at the following Institutions:
Central State Griffin Memorial Hospital, Eastern State Hospital, Western State Hospital and Taft State Hospital
 
 
$ 6,500,000.00
Oklahoma Public Welfare Commission for Expenditures at the following Institutions:
Pauls Valley State School, Enid State School and the Hissom Memorial Center
 
 
$ 1,000,000.00
State Department of Health
 
 
$ 2,275,000.00
Oklahoma State Library
 
 
$ 2,150,000.00
State Board of Public Affairs for Expenditures at the following Institutions:
Oklahoma State Penitentiary
 
 
$ 150,000.00
Oklahoma State Reformatory
 
 
$ 150,000.00
Oklahoma School for the Blind
 
 
$ 550,000.00
Oklahoma School for the Deaf
 
 
$ 550,000.00
Oklahoma Educational Television Authority
 
 
$ 250,000.00
Oklahoma Historical Society
 
 
$ 125,000.00
State Board of Health for Expenditures at the following Institutions:
Western Oklahoma Tuberculosis Sanatorium
 
 
$ 150,000.00
Eastern Oklahoma Tuberculosis Sanatorium
 
 
$ 150,000.00
Department of Public Health for the Building of Community Social Service Centers
 
 
$ 1,500,000.00
Purchase of Land in and about the Capital Improvement and Zoning District and Medical Center Improvement Zoning District and for Public Parks, Veterans Memorial Area and Landscaping
 
 
$ 750,000.00
and such legislation shall provide for the payment and discharge of the principal of such debt, together with interest on such indebtedness, from one or more of the following sources of state income as follows:
1. Any remainder of revenue available from the revenues lawfully levied and collected by the State of Oklahoma on the sale of cigarettes not already committed to other obligations of the State of Oklahoma;
2. Allocations by the Legislature of the State of Oklahoma from any monies in the general revenue fund of the state not otherwise obligated, committed or appropriated; and
3. The proceeds of any tax which the Legislature may impose and collect for the purpose of paying the principal and interest on the indebtedness herein authorized to be created, and authority is hereby granted to the Legislature to so impose and collect such tax, if necessary.
Such legislation hereby authorized to be enacted by the Legislature of the State of Oklahoma may provide for the issuance of bonds evidencing the indebtedness herein authorized and provide that such bonds may be issued in one or more series, may bear such date or dates, may mature at such time or times, may be in such denomination or denominations, may be in such form, coupon or registered, may carry such registration or conversion provisions, may be executed in such manner, may be payable in such medium or payment at such place or places, may be subject to such terms of redemption, with or without premium, and may bear such rate or rates of interest as the Legislature may deem expedient and may contain any and all provisions which the Legislature may deem necessary or expedient to make such bonds marketable as general obligations of the State of Oklahoma with the full faith and credit of the State pledged thereto. Within the limits of indebtedness herein authorized the Legislature in its discretion may authorize the issuance of such bonds and the incurring of the authorized indebtedness in fractional amounts of the total indebtedness hereby authorized to be incurred from time to time and at one or more sessions of the Legislature.

Credits

Added by State Question No. 433, Legislative Referendum No. 154, adopted at election held Dec. 14, 1965.
OK Const. Art. 10, § 37, OK CONST Art. 10, § 37
Current with amendments approved through June 30, 2020.
End of Document