Okla. Stat. tit. 62, § 62-57.133: Delivery of bonds upon payment - Deposit and investment

of proceeds - Interest.

The bonds and interest coupons attached thereto shall be

delivered to the purchaser thereof only upon payment of par and

accrued interest to the date of delivery thereof, together with any

premium bid, if any. The proceeds of the sale of said bonds shall

be deposited in the State Treasury of the State of Oklahoma, in the

State of Oklahoma Building Bonds of 1968 Fund, where they shall

remain subject to disposition as provided for by the Legislature of

Oklahoma, provided that the State Treasurer of the State of

Oklahoma, when so directed by any agency to which a portion of such

fund has been appropriated as to the amount appropriated to such

agency, shall invest the amounts designated by such agency for the

period or periods of time specified by such agency in direct

obligations of the United States of America or in certificates of

deposits from banks in the State of Oklahoma acceptable as

depositories by the State Treasurer when such certificates of

deposits are secured by the acceptable collateral and yield as much

or more than direct obligations of the United States of America, and

provided further that all such investments of said monies must be so

made that the same shall mature in time to enable the State of

Oklahoma to issue warrants for payment of the valid indebtedness

incurred for the purpose for which said bonds are issued, when the

said indebtedness has been incurred pursuant to legislative

authority. It shall be the duty of each agency receiving an

appropriation to promptly certify to the State Treasurer the amount

of all sums not needed for payment of construction and other legal

expenditures payable from the fund to meet the construction payment

schedule, and upon receipt of such certification the State Treasurer

shall forthwith make the aforementioned investment. All interest

received by the State Treasurer upon the above-mentioned securities

after June 30, 1972, shall be deposited in the State of Oklahoma

Building Bonds of 1968 Sinking Fund. Any appropriations of such

deposited interest enacted prior to June 30, 1972, for the agency

for which the investment was made may be expended as provided

therein. Any unappropriated amounts of such deposited interest

credited on June 30, 1972, to the agency for which the investment

was made, as formerly authorized by this section, shall be

transferred to the General Revenue Fund.