Petition - Limits. After the formation of a higher education funding district authorized by this act, the question of modification of an operational millage rate may be submitted to the voters of the district by resolution of the board of regents of the institution within The Oklahoma State System of Higher Education for the benefit of which the district has been created or upon a petition signed by ten percent (10%) or more of the eligible voters residing within the boundary of a district. No millage rate in excess of that provided for in Section 9B of Article X of the Oklahoma Constitution may be approved and no sinking fund millage rate for repayment of bonds or other evidence of indebtedness may be modified pursuant to the provisions of this section. The question of modification of an operational millage rate may be submitted at either a General Election or a special election with notice of the question to be provided in advance of the election date in the same manner as provided by law for similar questions pursuant to Section 9B of Article X of the Oklahoma Constitution or enabling legislation enacted pursuant to authority of that section.
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