70-1-118.

§70-1-118.


    The building fund of any school district shall consist of all
monies derived from the proceeds of a building fund levy of not to
exceed five (5) mills in any year, voted by the people of a school
district pursuant to the provisions of Article X, Section 10, of the
Oklahoma Constitution, monies appropriated by the state for the
purpose of capital expenditures or projects, monies allocated to a
school district by the State Board of Education from the State Public
School Building Equalization Fund, and monies donated to a school
district for the purpose of capital projects or improvements and may
be used for erecting, remodeling, repairing, or maintaining school
buildings, for purchasing furniture, equipment and computer software
to be used on or for school district property, for paying energy and
utility costs, for purchasing telecommunications services, for paying
fire and casualty insurance premiums for school facilities, for
purchasing security system, and for paying salaries of security
personnel, or for one or more, or all, of such purposes.  Proceeds of
such levies shall not be required to be used during the year for
which a levy is made but may accumulate from year to year until
adequate for the purposes intended.  The building fund hereinabove
defined is hereby declared to be a current expense fund, but shall
not be considered a part of the general operating fund.  No monies
derived from the proceeds of the school levies made pursuant to the
provisions of Article X, Section 9 of the Oklahoma Constitution may
be placed in the building fund provided by this section.