Okla. Stat. tit. 62, § 62-448: Tax for sinking fund - Cancellation when no deficit in

fund.

If now or hereafter in any county, city, town, township, school

district or other municipal subdivision of the State of Oklahoma,

there exists no deficit in the sinking fund thereof, the governing

body of such municipality may by proper resolution recite such facts

and cancel all taxes thereof which are unpaid and which were levied

for the sinking fund of such municipality, for all fiscal years

previous to the one in which such resolution is passed. Such

resolution need be only in general terms reciting the rate of levy

and the year or years for which the same was levied and shall

thereupon be applicable to all taxes levied for that purpose for

that year or years which are unpaid.