Okla. Stat. tit. 11, § 11-36-310: Limitation of bondholder actions on street improvement

bonds.

The right of any holder to enforce the lien of any street

improvement bond or street improvement refunding bond by

foreclosure, mandamus, refunding, or otherwise, shall be barred upon

the expiration of three (3) years after the maturity date named on

the face of such bond, unless the bondholder, prior to the

expiration of the three-year period, shall have:

1. Commenced suit to foreclose his lien by filing an action for

that purpose and procuring service of summons therein; or

2. Evidenced his willingness to accept street improvement

refunding bonds, issued under the provisions of Sections 36-309

through 36-312 of this title, in exchange for the bond.

The running of the three-year period of limitation shall be an

absolute bar to any action or proceeding brought thereafter, whether

the same is plead as a defense or not, and the property against

which the bonds represented a lien shall thereafter be, by operation

of law, absolved of any lien or liability on account of the bonds.