Okla. Stat. tit. 62, § 62-446: Transfer of surplus to general fund - Reduction of ad

valorem tax levy - Construction of permanent improvements.

Whenever any city or town of the State of Oklahoma shall have

accumulated an amount of money in its sinking fund sufficient to pay

at maturity the principal and interest of all its outstanding bonds,

coupons and judgments, any surplus money in said fund, after all

outstanding bonds, judgments or other charges against said sinking

funds have been fully paid, whether maturing in the current or in

future years, may be transferred by the governing body of such city

or town to its general fund to be used in reducing the ad valorem

tax levies for the ensuing fiscal year or years, or in constructing

public buildings or other permanent improvements as the governing

body may determine.