{"data":{"id":"us-ok/okla.-stat.-tit.-11-11-36-301","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 11, § 11-36-301","heading":"Issuance of negotiable coupon bonds","body":"The municipal governing body may, after the expiration of thirty\n\n(30) days from the publication of the assessing ordinance, within\n\nwhich period the whole of any assessment may be paid without\n\ninterest, provide by resolution for the issuance of bonds to pay all\n\nor any part of the cost of the street improvement. The bonds shall\n\nbe in the aggregate amount of the assessments then remaining unpaid,\n\nbearing the date of thirty (30) days after the publication of the\n\nassessing ordinance, and be of such denominations as the governing\n\nbody and the contractor shall determine. The bonds shall in no\n\nevent become a liability of the municipality issuing the bonds. The\n\nbonds shall be payable on or before the first of October next\n\nsucceeding the September 1 on which the last installment of\n\nassessments shall mature. The interest on the bonds shall be at the\n\nrate of not to exceed twelve percent (12%) per annum, payable on\n\nOctober 1 following the due date of the first installment of\n\nassessments, and semiannually thereafter, until maturity, and\n\nfifteen percent (15%) per annum after maturity. The bonds shall be\n\ndesignated as Street Improvement Bonds and shall:\n\n1. Recite the street or streets or part of streets, or other\n\npublic places, for the improvement of which they have been issued;\n\n2. State that they are payable, in cash, from the assessments\n\nwhich have been levied upon the lots and tracts of land benefited by\n\nthe improvement and from the accumulation of the interest and\n\npenalty on the assessment;\n\n3. Designate the place, either within or without Oklahoma,\n\nwhere the bonds and interest shall be payable;\n\n4. Be signed by the mayor and attested by the municipal clerk;\n\nand\n\n5. Contain an impression of the corporate seal of the\n\nmunicipality thereon.\n\nFacsimile of the signatures of the mayor and municipal clerk may be\n\nused as provided in the Registered Public Obligations Act of\n\nOklahoma. The bonds shall be issued in series, and the bonds of\n\neach series shall be numbered consecutively beginning with number\n\nOne, and the bonds of each series shall be payable, in cash, in\n\ntheir numerical order.","path":["OK Code","Title 11"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os11.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"3b5896fb8782b1b50968241d38d19e52c72604fc096794f0aa56c70902603fb7","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-11-11-36-227","next":"us-ok/okla.-stat.-tit.-11-11-36-302"},"notice":"GroundRules: Original legal text. Not legal advice."}