Okla. Stat. tit. 62, § 62-757: Moneys in escrow or trust account - Investment - Security

- Sufficiency.

A. Moneys placed in any escrow or trust account shall not

necessarily be limited to proceeds of refunding bonds but may

include other moneys legally available for that purpose.

B. Any moneys in an escrow or trust account, pending use for

their intended purpose, may be invested or reinvested only in

federal securities.

C. The escrow agent shall continuously secure any moneys placed

in an escrow or trust account and not so invested or reinvested in

federal securities by a pledge of federal securities with a market

value determined on a daily basis at least equal to the total

uninvested moneys held in such escrow or trust account in strict

accordance with the provisions of the escrow agreement. The

requirements of this subsection shall not apply to any said

uninvested moneys insured by the Federal Deposit Insurance

Corporation.

D. Such moneys and investments in the escrow or trust account,

together with the interest or other gain to be derived from any such

investments, shall at all times be at least sufficient to make all

of the payments required to be made pursuant to the escrow agreement

in the manner and at the times specified in the escrow agreement.

The computations made in determining such sufficiency shall be

verified by a certified public accountant. Said computations shall

be certified within five (5) days prior to the delivery of and

payment for the refunded bonds.