{"data":{"id":"us-ok/okla.-stat.-tit.-11-11-37-233","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 11, § 11-37-233","heading":"Right of action of bondholder","body":"Any holder of any improvement bond issued hereunder shall have\n\nthe right to institute, in the name of the municipality issuing the\n\nbond, an action in the district court in the county in which the\n\nproperty is located to foreclose the lien of the assessments\n\nwhenever the assessments, or any installment thereof, are delinquent\n\nfor a period of at least six (6) months. The petition for\n\nforeclosure shall generally:\n\n1. State the ownership of the bond;\n\n2. Describe the property assessed;\n\n3. Describe the nature of the improvement;\n\n4. Set forth the amount of the unpaid delinquent assessment or\n\ninstallment and penalty thereon at the rate of twelve percent (12%)\n\nper annum; and\n\n5. Pray for the foreclosure of the lien.\n\nSummons shall be issued on the petition as in other civil actions\n\nand the cause tried by the district court. Judgment may be entered\n\non the petition for the amount of the unpaid assessment, or\n\ninstallment, together with interest thereon at the rate of twelve\n\npercent (12%) per annum from the date the assessment or installment\n\nwas due and payable up to the date of the filing of the petition,\n\nand for the sum of six percent (6%) interest on the judgment\n\ncomputed from the time of filing the petition until the judgment is\n\npaid, together with reasonable attorneys fees. If the judgment,\n\ntogether with interest, costs and attorneys fees, is not paid within\n\nsix (6) months after the date of the rendition thereof, an order of\n\nsale shall issue by the clerk of the court, directed to the sheriff\n\nof the county, to sell the real estate in the manner and form as for\n\nsale of real estate under execution. Upon the payment of the\n\njudgment, the amount thereof exclusive of costs and attorneys fees\n\nshall be paid to the municipal treasurer for deposit in the\n\nseparate, special fund to pay outstanding bonds and interest\n\nthereon. The judgment shall provide for the sale of the real estate\n\nsubject to existing general ad valorem taxes. All owners or\n\nencumbrancers shall be made parties defendant in the suit. Upon the\n\ninstitution of an action to collect delinquent and unpaid\n\nassessments in any improvement district against property liable\n\ntherefor, no other or further action shall be instituted and\n\nmaintained to collect such delinquent assessment against the\n\nproperty for that year.","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":"5b9571e9f5c654bcb1d682bdc52d7322102925c108bf6c2b98adc4e44376387a","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-11-11-37-232","next":"us-ok/okla.-stat.-tit.-11-11-37-234"},"notice":"GroundRules: Original legal text. Not legal advice."}