OK HCR1011

Authorizes the Board of Regents for the Oklahoma Agricultural and Mechanical Colleges to issue revenue bonds on behalf of Oklahoma State University Institute of Technology (OSUIT) in Okmulgee, not to exceed $3,000,000.

Bonds are designated for renovating aging water and sewer infrastructure on the OSUIT campus, including replacement of 10,956 feet of water lines, 2,440 feet of sewer lines, and 45 fire hydrants.

Revenue bonds are limited and special obligations payable solely from pledged revenues of the Board of Regents for the Oklahoma Agricultural and Mechanical Colleges.

Bonds are never to become obligations of the State of Oklahoma and do not require legislative appropriation of funds for repayment of principal or interest.

Copies of the resolution must be distributed to the Board of Regents for the Oklahoma Agricultural and Mechanical Colleges and the Oklahoma State Regents for Higher Education.