Okla. Stat. tit. 19, § 19-1277: Issuance and sale of bonds - Competitive bids - Deposit

of proceeds.

A. If at the election three-fifths (3/5) of the voters voting

thereon shall vote in favor of the issuance of water facility or

reservoir general obligation bonds, the board of county

commissioners shall proceed at once with the issuing of the bonds

and shall deposit them in the treasury of the county. The county

treasurer shall be responsible and chargeable for the bonds on his

official bond.

B. The bonds shall be sold by competitive bid. The board of

county commissioners shall award the purchase of the bonds to the

highest responsible bidder, but shall have the right to reject any

and all bids. The board shall in no event sell any of the bonds for

less than par with accrued interest.

C. Proceeds from the sale of said bonds shall be deposited in

the treasury of said county and the county treasurer shall pay out

such money upon the orders of the board of county commissioners from

time to time as the same shall be needed.