Okla. Admin. Code § 385:40-1-12 - Arbitrage
(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 Section 365.5 of Title 62 of the Oklahoma Statutes.
(b) The school district shall certify that it will take no action that will result in the bonds becoming arbitrage bonds.
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.