Oklahoma Administrative Code

All commercial leases shall be for a term not to exceed fifty-five (55) years, the exact term to be at the sole discretion of the Commissioners. Notes Okla. Admin. Code § 385:25-1-32 Added at 16 Ok Reg 1451, eff 5-27-99

(a) Upon categorization of trust land as commercial and prior to its being offered for lease, an appraisal for fair market value shall be made by appraisers designated by the Land Office on a form acceptable to the Commissioners of the Land Office. Appraisals will be made in acco…

(a) Short term commercial leases. Commercial leases with a term of three (3) years or less must be for annual rent of not less than fair market rental value, but no public bidding is required. (b) Long term commercial leases. Commercial leases with a term of over three years shal…

Unless lessee is otherwise exempt by Constitution or statute, ad valorem property taxes shall be paid on any improvements and structures which would be subject to ad valorem property taxes if constructed on privately owned land. Notes Okla. Admin. Code § 385:25-1-35 Added at 16 O…

Any permanent improvement made on commercial trust property after July 1, 1989, shall revert to the Trust at the expiration or termination of the lease unless the Commissioners and the lessee agrees to allow removal of improvements prior to the expiration or termination of the le…

At the sole discretion of the Commissioners, funding may be provided for development of plans and building infrastructure on commercial lands to be developed. Notes Okla. Admin. Code § 385:25-1-37 Added at 16 Ok Reg 1451, eff 5-27-99

Commissioners may plat lands for commercial development and designate and dedicate to the appropriate governmental entity easements for a utility corridor and streets to service the development. Notes Okla. Admin. Code § 385:25-1-38 Added at 16 Ok Reg 1451, eff 5-27-99

Notes Okla. Admin. Code § 385:25-1-39 Added at 16 Ok Reg 1451, eff 5-27-99; Revoked at 29 Ok Reg 1306, eff 6-25-12

All leases of lands for agricultural or commercial purposes shall be in writing and shall be upon such terms and conditions and at such rental as may be determined by the Commissioners. All such leases shall be upon the form furnished by the Commissioners. All leases shall contai…

Notes Okla. Admin. Code § 385:25-1-40 Added at 16 Ok Reg 1451, eff 5-27-99; Revoked at 29 Ok Reg 1306, eff 6-25-12

(a) Authorization. The Commissioners may authorize exchange of lands held in Trust for other lands held by other entities on an equal value basis. (b) Criteria. It is the intent of the CLO to exchange lands held in Trust that are landlocked, too small in size to be an economic un…

Irrigation permits may be issued to agricultural lessees for the purpose of irrigating CLO Trust Lands. The permit fee shall be determined by the market value rental amount for irrigated acres for comparable deeded land. The permit shall have a delinquency interest rate of 16%. T…

The Commissioners, or their designee, may authorize issuing right of entry permits for the purpose of individuals searching for Treasure Trove on CLO Trust lands. The fee and term for the permit shall be determined by the appropriate land management personnel but in no case shall…

(a) Commission. A real estate broker commission may be paid to a Broker who represents a commercial business that acquires a long-term commercial lease from the CLO. The broker's fee shall only be paid when the commercial business has opened the business for operation. (b) Fee. T…

(a) Agricultural lease terms. All surface leases for agricultural purposes will be appraised for market value annual rental and offered at public bid for terms not to exceed five (5) years at not less than the appraised market value. (b) Short term commercial leases. The granting…

Notes Okla. Admin. Code § 385:25-1-6 Revoked at 16 Ok Reg 1451, eff 5-27-99

The term of all surface leases will be in compliance with 64 O.S. § 1023, and where applicable, at the sole discretion of the Commissioners. Notes Okla. Admin. Code § 385:25-1-7 Amended at 15 Ok Reg 1754, eff 5-12-98; Amended at 29 Ok Reg 1306, eff 6-25-12

The State shall have the right to designate certain tracts that are in need of extensive conservation work as special conservation leases. A complete plan of conservation work shall be developed. Any such Plan would contain projects needed, completion dates of each practice, and …

The heir(s) or devisee(s) of a deceased lessee shall succeed to the interest and have all rights of the lessee under the lease contract. Notes Okla. Admin. Code § 385:25-1-9 Amended at 16 Ok Reg 1451, eff 5-27-99

The rules of this Chapter have been adopted to establish the requirements and procedures for the general public to buy School Land. Article 6, Section 32 of the Oklahoma Constitution mandates that the CLO shall have the charge of the sale, rental, disposal and managing of School …

The determination of whether a tract of State school land shall be offered for sale is wholly within the province of the Commissioners of the Land Office. No person has the right to demand that any tract be sold, but may request that a particular tract be sold. Notes Okla. Admin.…

An individual who wishes to request the sale of a particular tract of land is required to make a written offer which the applicant will agree to commence the bidding at public auction if the Commissioners elect to offer the land for sale. Upon receipt, such request will be presen…

School land shall be appraised prior to sale by three duly authorized appraisers to establish a fair market value. Land shall not be sold for less than the appraised value. Lessee owned improvements will be appraised separately. If Lessee is not the purchaser, he will be paid for…

The Commissioners shall retain all minerals in the sale of school land. Notes Okla. Admin. Code § 385:30-1-5

When the Commissioners authorize and direct an appraisal of school land for sale purposes and the appraisal is approved, the Commission will then determine if they desire to sell this tract of land based on this appraisal. Notes Okla. Admin. Code § 385:30-1-6 Amended at 16 Ok Reg…

In addition to the purchase price, the successful bidder for school land will be required to pay the associated costs, including but not limited to the cost of advertising, surveying and the appraisal. If the land being sold is a homesite or joins State land not being sold, the s…

The terms of the sale shall be set out in the Notice of Sale and a Patent will be issued when all amounts due are paid in full. The State does not warrant title. Notes Okla. Admin. Code § 385:30-1-8 Amended at 16 Ok Reg 1459, eff 5-27-99

All lands shall be sold by public bidding. (1) Bidding procedure with preference right. If lands have been designated with a preference right to purchase, lessee holding such lease may meet any given high bid at the time of sale by using the two tier bidding procedure. (2) If no …

(a) Certificate of purchase. If purchaser finances the land purchase through the Commissioners of the Land Office by terms in the Notice of Sale, the state will have a first lien upon the lands sold and the purchaser will be issued a Certificate of Purchase. When all payments are…

Notes Okla. Admin. Code § 385:35-1-1 Revoked at 29 Ok Reg 1310, eff 6-25-12

Notes Okla. Admin. Code § 385:35-1-2 Revoked at 29 Ok Reg 1310, eff 6-25-12

Notes Okla. Admin. Code § 385:35-1-3 Revoked at 29 Ok Reg 1310, eff 6-25-12

Notes Okla. Admin. Code § 385:35-1-4 Revoked at 29 Ok Reg 1310, eff 6-25-12

The rules of this chapter have been adopted to establish the requirements and procedures for the Guarantee Program for School District Bonds. They cover basically matters that are necessary to implement the program authorized by House Bill 1577 of the 44th Legislature (1994) and …

As used in Title 70 § 15-207 and 208 and 210 of the Oklahoma Statutes the notice must be received at the office of the CLO and the notice must be in writing and may be delivered by mail or by electronic transmission and shall be deemed received when it is receipted by an employee…

Paying agent is an independent person or party, not an employee of the school district where bond is guaranteed, and is responsible for making bond payments on behalf of the school district and is also responsible for notifying the CLO in the event the school district will be or …

(a) In the event of payment from the permanent fund by the CLO on behalf of a school district, the Commissioners will not resort to repayment of the fund by withholding apportionment funds but will promptly seek reimbursement of the amount paid pursuant to the provision of Sectio…

The following words or terms, when used in this Chapter, shall have the following meaning, unless the context clearly indicates otherwise: "School Bonds" or "bonds" mean bonds issued pursuant to the provisions of § 15-101 through 15-109 of Title 70 of the Oklahoma Statutes. "Comm…

(a) The school district shall apply on a form devised by the staff of the CLO and the CLO's review shall include but not be limited to the following. (1) The name of the school district; (2) The amount of the bond to be issued; (3) The maturity schedule, the estimated interest ra…

(a) The application shall be accompanied by a processing fee of $500.00 of which $250.00 may be refunded in the event the guarantee is not approved by the Commissioners or the bonds are not sold. (b) Any application for guarantee of a bond issue in excess of $2,000,000.00 shall b…

(a) The applicant school district shall provide all information and documentation to any bond rating agency and potential bond purchaser for establishment of the bond rating of the issue and/or sale of the bond issue. (b) The CLO may limit approval of the guarantee to those distr…

The Guarantee shall be removed in its entirety when bonds guaranteed by this program are defeated by the voters of the district or upon disapproval of the Attorney General of the State of Oklahoma. Notes Okla. Admin. Code § 385:40-1-6 Added at 13 Ok Reg 641, eff 11-29-95 (emergen…

Within five (5) days of delivery of bonds to the purchaser, the school district must provide notice to the Commissioners of the Land Office showing the closing date of the issue and certifying that it has satisfied all conditions contained in its authorization to participate in t…

Notes Okla. Admin. Code § 385:40-1-8 Reserved at 13 Ok Reg 641, eff 11-29-95 (emergency); Reserved at 13 Ok Reg 1373, eff 5-13-96

A school district shall notify the CLO within five (5) days after retirement of any bond. Notes Okla. Admin. Code § 385:40-1-9 Added at 13 Ok Reg 641, eff 11-29-95 (emergency); Added at 13 Ok Reg 1373, eff 5-13-96

Figure 1 Notes Okla. Admin. Code tit. 38, ch. 10, app A Added at 23 Ok Reg 2177, eff 6-25-06; Revoked and reenacted at 26 Ok Reg 2417, eff 7-11-09

Pursuant to the authority vested in the Council by 70 O.S., Section 3311 et seq., 20 O.S., Section 1313.2, and 59 O.S., Section 1750.1 et seq., Section 1451 et seq., 1350.1 et seq., 21 O.S. Section 1289.8 and 1290.1 et seq., the rules of this Title have been promulgated. The purp…