Okla. Stat. tit. 62, § 62-345: Intent of Act - Face value or warrants or bonds

It is the intent and purpose of this act to allow the owner of

any paving, drainage or street improvement warrants or bonds

heretofore or hereafter issued, as described in Sections 1 and 2 of

this act, to use the same to the extent of their face value in the

payment and satisfaction of all paving, drainage and street

improvement assessments which have been levied upon his property

located in the paving, drainage, or street improvement district in

and for which such paving, drainage or improvement warrants or bonds

were issued in payment, whether such assessments or installments are

due or to become due, and to the extent of the face value of such

warrants or bonds tendered in payment thereof, and to cause all

penalties hereafter collected, and all such penalties heretofore

collected, which may be identified, by the county treasurer on such

drainage assessments to be credited to and placed in the funds of

such district from which only the warrants and bonds of such

district and the interest thereon, issued for the construction of

said improvements, may be paid and discharged.