Title 70, Title 70 — Schools

It is the intent of the Legislature that the Oklahoma State Regents for Higher Education establish levels of administrative expenditures under the functional category of Institutional Support at each of the public higher education institutions and constituent agencies. The Regent…

Administrative expenses. A. There is hereby created a trust fund to be known as the "Oklahoma State Regents' Endowment Trust Fund". The Oklahoma State Regents for Higher Education shall be the trustees of the Trust Fund. B. The State Regents shall utilize the Trust Fund to implem…

Allocation of investment return - Matching requirement. A. The principal held in the Oklahoma State Regents' Endowment Trust Fund shall be made available for the establishment of and allocation to endowment accounts within the Trust Fund for the benefit of individual public insti…

Principal - Income and investment return - Administrative expenses. A. There is hereby created a trust fund to be known as the "Oklahoma State Regents' Academic Scholars Trust Fund." The Oklahoma State Regents for Higher Education shall be the trustees of said Trust Fund. B. The …

A. There is hereby created a trust fund to be known as the “Oklahoma Higher Learning Access Trust Fund”. The Oklahoma State Regents for Higher Education shall be the trustees of the Trust Fund. B. The State Regents shall utilize the Trust Fund to implement the provisions of Secti…

A. There is hereby created a trust fund to be known as the "Oklahoma GEAR UP Scholarship Trust Fund". The Oklahoma State Regents for Higher Education shall be the trustees of said Trust Fund. B. The State Regents shall utilize said Trust Fund to fund scholarships in accordance wi…

A. There is hereby created a trust fund to be known as the "Oklahoma Tuition Equalization Grant Trust Fund". The Oklahoma State Regents for Higher Education shall be the trustees of the Trust Fund. B. The State Regents shall utilize the Trust Fund to implement the provisions of S…

committee - Investment managers - Fund custodian - Investment plan - Financial reports - Annual reports. A. The Oklahoma State Regents for Higher Education shall discharge their duties as trustees of the Oklahoma State Regents' Endowment Trust Fund, as trustees of the Oklahoma St…

A. A fiduciary with respect to the Oklahoma State Regents' Endowment Trust Fund, the Oklahoma State Regents' Academic Scholars Trust Fund, the Oklahoma Higher Learning Access Trust Fund, the Oklahoma GEAR UP Scholarship Trust Fund, or the Oklahoma Tuition Equalization Grant Trust…

This act shall be known and may be cited as the "Oklahoma College Savings Plan Act". Added by Laws 1998, c. 366, § 1, eff. July 1, 1998.

A. Nothing in this act shall be construed to: 1. Give a designated beneficiary any rights or legal interest with respect to an account unless the designated beneficiary is the account owner; 2. Guarantee that a designated beneficiary will be admitted to a higher education institu…

The Board of Trustees of the Oklahoma College Savings Plan shall submit a report summarizing any findings and recommendations concerning the program to the Speaker of the House of Representatives, the President Pro Tempore of the Senate, and the Governor by February 1 of each yea…

No account under the Oklahoma College Savings Program shall be opened prior to January 1, 1999, and until the Board of Trustees of the Oklahoma College Savings Plan determines it is appropriate. Added by Laws 1998, c. 366, § 12, eff. July 1, 1998.

It is the purpose of this act, given the cost of higher education, the importance of encouraging savings for tuition, and the correlation of economic growth and education, to permit Oklahomans to benefit from tax benefits for qualified college savings programs allowed by federal …

As used in this act: 1. "Account" means an individual trust account or savings account established as prescribed in this act; 2. "Account owner" means the person or other entity allowable under Section 529 of the Internal Revenue Code designated at the time an account is opened a…

A. There is hereby created the Board of Trustees of the Oklahoma College Savings Plan program composed of seven (7) members as follows: 1. The State Treasurer; 2. The State Auditor and Inspector; 3. The State Superintendent of Public Instruction; 4. The Chancellor of the Oklahoma…

The Board of Trustees of the Oklahoma College Savings Plan shall: 1. Develop and implement the program in a manner consistent with this act through the adoption of guidelines and procedures; 2. Retain professional services, if necessary, including accountants, auditors, consultan…

A. The Board of Trustees of the Oklahoma College Savings Plan shall implement the program through the use of one or more financial institutions to act as the depositories and managers. Under the program, persons may establish accounts through the program at a depository that has …

A. The program shall be operated through the use of accounts. An account may be opened by any person who desires to save to pay the qualified higher education expenses of a person by: 1. Completing an application in the form prescribed by the Board; 2. Paying the one-time applica…

A. Any student loan program, student grant program, or other financial assistance program established or administered by this state shall treat the balance in an account of which the student is a designated beneficiary as if it were an asset of the parent of the designated benefi…

This act shall be known and may be cited as the “Oklahoma Higher Education Promise of Excellence Act of 2005”. Added by Laws 2005, c. 2, § 1, emerg. eff. March 31, 2005.

A. Each authorized issuer and each institution within The Oklahoma State System of Higher Education that receives proceeds from the sale of any obligations issued pursuant to the Oklahoma Higher Education Promise of Excellence Act of 2005 shall issue financial statements audited …

issuance of obligations - Authorized projects. A. For the purpose of paying the costs for acquisition, reimbursement and construction of real and personal property and making repairs, refurbishments and improvements to real and personal property, and providing funding for the her…

A. It is the intent of the Legislature to authorize the Board of Regents of the University of Oklahoma, acting for the benefit of the University of Oklahoma, the Board of Regents for the Oklahoma Agricultural and Mechanical Colleges, acting for the benefit of Oklahoma State Unive…

As used in the Oklahoma Higher Education Promise of Excellence Act of 2005, and unless the context clearly requires otherwise: 1. “Authorized issuer” means: a. the Oklahoma State Regents for Higher Education acting for the benefit of any institution within The Oklahoma State Syst…

Approval procedures for issuance of obligations - Restrictions on issuance. A. The Oklahoma State Regents for Higher Education shall be authorized to issue indebtedness for capital projects to benefit each and every institution within The Oklahoma State System of Higher Education…

The authorized issuers are for purposes of this act hereby granted, have and may exercise all powers necessary or appropriate to carry out and effectuate their respective corporate purposes, including, without limiting the generality thereof, the following: 1. To make and execute…

resolutions - Bonds deemed negotiable instruments. A. An authorized issuer shall have the power and is hereby authorized to borrow money and to issue bonds in such principal amounts as the authorized issuer determines shall be necessary to provide sufficient funds for: 1. The pro…

The obligations issued pursuant to this act by an authorized issuer, the transfer thereof and the interest earned on such obligations, including any profit derived from the sale thereof, shall not be subject to taxation of any kind by the State of Oklahoma, or by any county, muni…

The Oklahoma State Regents for Higher Education, the Board of Regents of the University of Oklahoma and the Board of Regents for the Oklahoma Agricultural and Mechanical Colleges shall make application for a credit rating from a nationally recognized rating agency with expertise …

additions, public utilities, etc. - Fees and charges - Sale of surplus commodities and services - Cooperative agreements. A. Subject to and in accordance with the terms hereof, the boards of regents for all state educational institutions for and in behalf of any university, colle…

(a) For the purpose of paying all or part of the cost of acquisition of any such lands, rights-of-way, easements, licenses and permits and the construction, acquisition, equipment and furnishing of any such building or buildings or structure or structures, plants or systems, or o…

Legislative approval expressed by concurrent resolution, except as provided by Section 121, Chapter 189, O.S.L. 1993, shall be required prior to commencing any action in anticipation of issuance by a Board of Regents of revenue bonds authorized by Section 4002 of Title 70 of the …

network - Revenue bonds. The Oklahoma State Regents for Higher Education are hereby authorized to issue revenue bonds in the sum not to exceed Two Million Dollars ($2,000,000.00) for the purpose of planning and constructing a communications and telecommunications network and the …

obligations of State. No provision of this article shall be construed to authorize the pledging or use of revenue of existing buildings and facilities other than auxiliary enterprises and other self-liquidating buildings and facilities, nor shall any provisions of this article be…

bonds - Agreements and terms. (a) The bonds issued hereunder shall not be an indebtedness of the State of Oklahoma or of the institution for which they are issued or the board of regents thereof, but shall be special obligations payable solely from the revenue to be derived from …

The board may enter into any agreement or contracts with the United States of America or any agency or instrumentality thereof which it may consider advisable or necessary in order to obtain a grant of funds or other aid to be used in connection with the proceeds of the bonds in …

The proceeds derived from the sale of the bonds herein authorized shall be deposited in the State Treasury to the credit of the board and kept in a separate fund and used solely for the purpose for which the bonds are authorized. The board is authorized to make all contracts and …

Except as to revenues paid directly to a trustee under the provisions of Section 1004(a) (5) hereof, all income and revenues derived from the operation of the building shall be deposited as collected in a fund in the State Treasury to be applied solely to the payment of the princ…

All bonds issued hereunder shall have on the backs thereof the certificate required by Section 29 of Article X of the Constitution of Oklahoma. Such bonds and any bonds or other obligations issued under the Oklahoma Higher Education Promise of Excellence Act of 2005 shall be subm…

Any bank, trust or insurance company organized under the laws of Oklahoma may invest its capital, surplus and reserves in bonds issued under the provisions of this article. The officers having charge of any sinking fund or any other fund of the state or any department, agency or …

issue. Whenever the board shall have adopted a resolution authorizing the issuance of any series of bonds hereunder and said bonds have been sold but prior to the time as of which the bonds can be delivered the board finds it necessary to borrow money for the purpose for which th…

The board is authorized in its discretion to file an application with the Supreme Court of Oklahoma for the approval of any series of bonds to be issued hereunder, and exclusive original jurisdiction is hereby conferred upon the Supreme Court to hear and determine each such appli…

The Board of Regents which by the Constitution and/or by the laws of this State is charged with the control, management and government of one or more of the universities, colleges, schools or institutions of higher education shall have for each of the universities, colleges, scho…

For each of the proposed bond issues to be issued pursuant to Sections 4001 through 4014, Title 70 of the Oklahoma Statutes, a Statement of Essential Facts shall be prepared by the issuing Board of Regents for the use and information of prospective bond purchasers. It shall be th…

- Revenue bonds. A. The board of trustees of any community junior college operating under the provisions of Sections 4401 through 4418 of Title 70, Oklahoma Statutes, may construct a building for use as a social and recreation center for the students and members of the faculty of…

The Board of Regents which by the Constitution and/or by the laws of this state is charged with the control, management and government of one or more of the universities, colleges, schools or institutions of higher education shall have for each of the universities, colleges, scho…

Contractual arrangements with public trusts - Capital expenditures. The boards of regents for educational institutions who are members of The Oklahoma State System of Higher Education are authorized to enter into loan agreements, investment agreements or other appropriate contrac…

In any instance in which the board shall consider it preferable to acquire the building or additions to existing buildings or equipment in the manner authorized in this section rather than through the issuance of bonds by the board, it may do so by complying with this section. In…

endowed chairs and positions - Issuance of obligations. A. The Oklahoma Capitol Improvement Authority is hereby authorized, consistent with the statutes pertaining to the Oklahoma State Regents' Endowment Trust Fund, to establish a program to provide for the advance funding of th…