{"data":{"id":"us-ok/okla.-stat.-tit.-11-11-37-229","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 11, § 11-37-229","heading":"Issuance of negotiable coupon books","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. The\n\nbonds shall be in the aggregate amount of the assessments then\n\nremaining unpaid, bearing date of thirty (30) days after the\n\npublication of the assessing ordinance, and be of such denominations\n\nas the governing body and the contractor shall determine. The bonds\n\nshall in no event become a liability of the municipality issuing the\n\nbonds. The bonds shall be payable on or before the first of October\n\nnext succeeding 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\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 Improvement Bonds and shall:\n\n1. Recite the areas for the improvement of which they have been\n\nissued;\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 assessments;\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 seals and signatures of the mayor and municipal clerk may\n\nbe used 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. The bonds of each series shall be payable, in cash, in their\n\nnumerical 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":"b03d942f5262f924ec4c5cd8be5337261d427bbc596085670e391c1bae131675","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-11-11-37-228","next":"us-ok/okla.-stat.-tit.-11-11-37-230"},"notice":"GroundRules: Original legal text. Not legal advice."}