Okla. Stat. tit. 62, § 62-291: When cancellation authorized

That any municipality, political corporation or subdivision of

this state, which has issued its bonds for any purpose and after the

issuance or approval of said bonds it is determined that the purpose

for which said bonds were issued has ceased to exist, is hereby

authorized to cancel and destroy said bonds, thereby absolving

itself from any liability for the payment of said bonds, or the

coupons thereto attached, in the manner and under the procedure

provided in Section Two hereof.