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Oklahoma · Snapshot open-us-law v2026.08, retrieved 2026-09-14

Okla. Stat. tit. 74, § 74-5063.13: Resolution of board of directors - Trust indentures

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Where this section sits in the code
  1. OK Code
  2. Title 74

A. All bonds issued hereunder shall be authorized by resolution

of the board of directors. Each such resolution shall contain such

terms, covenants and conditions applicable to the bonds as are

deemed desirable. All bonds issued under this act shall be on a

parity as to security. The resolution of the board may provide for

the execution and delivery by the Oklahoma Development Finance

Authority of a trust indenture or trust indentures, with a bank or

banks located within or without the state, containing any of the

terms, covenants and conditions referred to above, which trust

indenture or trust indentures shall be binding upon the state, and

its officers and officials, to the extent set forth in this act.

B. Any resolution or trust indenture adopted or executed under

this section shall provide that power is reserved to apply to the

payment of debt service on the bonds issued or secured thereunder

all or any part of the Authority's revenues, from whatever source

derived, and, to the extent of such revenues, to release from any

requirement of such resolution or trust indenture other revenues and

resources of the state including without limitation, the general

revenue funds required to be appropriated pursuant to this act.

Collected 2026-09-14T18:32:36Z. Source file · JSON

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