Section X-31

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Section X-31: Indebtedness for construction, equipment, etc., of state buildings - Use of part of cigarette tax for payment.

    The Legislature of the State of Oklahoma is hereby authorized to
enact a law whereby the State may become indebted in an amount not to
exceed Thirty-six Million Dollars ($36,000,000.00) for the purpose of
constructing, equipping, remodeling and repairing any and all
buildings of the State, including those of its educational,
recreational, penal and eleemosynary establishments; and such laws
shall provide that two cents (2") of the tax on each package of
cigarettes authorized by 68 O.S.1941, Par. 586 to 586p, as amended
and supplemented to the effective date of this Section, or so much of
said tax as may be necessary, shall be pledged and used for the sole
purpose of paying the interest on such debt as it falls due, and also
to pay and discharge the principal of such debt within twenty-five
(25) years from the time of the contracting thereof; provided, that
if said tax is not sufficient to so pay and discharge said interest
and principal, the Legislature shall impose and provide for the
collection of an additional tax, other than an ad valorem tax,
sufficient to pay and discharge said interest and principal.

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