§70-9011. Bond proceeds – Authorized expenditures – Final
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/ok/title-70-schools/70-9011A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
authority.
A. Proceeds from bonds or other evidence of indebtedness issued by the higher education funding district may be expended on such assets as authorized by the provisions of the Internal Revenue Code of 1986, as amended, or other provisions of federal or state law based on whether the interest income paid to bondholders is exempt from federal or state income tax.
B. Final maturity of any obligation issued by the higher education funding district shall not exceed twenty-five
(25)years.
C. Bonds or other evidence of indebtedness issued by a higher education funding district may be sold using such procedures as may be established by the board of regents of the institution for whose benefit the higher education funding district has been created. Added by Laws 2022, c. 406, § 11.