Special election – Election costs. A. An election may be conducted in November of any even- numbered year in order to determine whether the proposed higher education funding district shall be formed and its initial operational millage rate, which shall not exceed the number of mills as prescribed by Section 9B of Article X of the Oklahoma Constitution. If the certified election results show that a sixty percent (60%) majority of all votes cast are in favor of the creation of the higher education funding district, the county election board shall declare the district to have been established and, if an initial operational millage was submitted to the voters as part of the same ballot measure for creation of the district, shall also declare such millage rate to be established for the district. B. If there are to be any bonds or other evidence of indebtedness issued by the district contemporaneously approved at the election calling for the formation of the district or at any subsequent election called for the purposes of approving such bonds or other evidence of indebtedness, such information as may be required for the approval of a sinking fund millage rate as provided by law shall also be included on the ballot, but the principal amount of debt to be incurred, the projects to be constructed or improved or acquired with the proceeds of the bonds, the maximum maturity of the bonds and other information shall be included as part of the ballot title if that question is submitted to the voters. C. A special election may be conducted in the manner prescribed by Section 12-116 of Title 26 of the Oklahoma Statutes if the question of the creation of the higher education funding district is to be submitted at any other time than a General Election. D. All costs for elections related to higher education funding districts shall be paid for by the institution of higher education for the benefit of which the district is being created or, after approval of such district, for the benefit of which the district was created.
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