Section X-37

[Previous] [Next] [Up] [Top]

Section X-37: Bond issue for capital improvements at state institutions.

  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
    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
    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
  Capitol 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.

[Previous] [Next] [Up] [Top]
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.