Legal Opinion
Opinion No. (2005)
Oklahoma Attorney General Reports
Decided November 28, 2005Published
1Opinion of the Court
Dear Senator Gumm,
¶ 0 This office has received your request for an official Attorney General Opinion, in which you ask the following question:
Are Oklahoma school districts authorized to enter into an interest rate swap with a bank or other financial institution?
Background
Oklahoma School Districts' Authority And Powers
¶ 1 Oklahoma school districts are created by state statute and derive their power and authority from those statutes. "Every school district shall be a body corporate and . . . be capable of contracting and being contracted with . . . as authorized by law." 70 O.S. 2001, §…
2Cases cited5 opinions
- Thrifty Oil Co. v. Bank of America National Trust and Savings AssociationCourt of Appeals for the Ninth Circuit · 2003
- Board of Education of Oklahoma City v. CloudmanSupreme Court of Oklahoma · 1939
- Thrifty Oil Co. v. Bank of America National Trust & Savings Ass'n (In Re Thrifty Oil Co.)District Court, S.D. California · 2000
- Carlyle v. Independent School District No. I-71 of McCurtain CountyCourt of Civil Appeals of Oklahoma · 1991
- Oklahoma Sports Properties, Inc. v. Independent School District 11 of Tulsa CountyCourt of Civil Appeals of Oklahoma · 1998