{"data":{"id":"us-ok/okla.-stat.-tit.-19-19-884","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 19, § 19-884","heading":"General plan of proposed operation - Bonds","body":"As soon as practicable after the organization of such\n\nimprovement district, the board of directors shall, by resolution\n\nentered on its record, formulate a general plan of proposed\n\noperation for the district, in which shall be stated what\n\nconstructed works or other property is proposed to be purchased and\n\nthe cost of purchasing the same, and what amount of construction is\n\nproposed to be done and the cost of doing the same. For the purpose\n\nof ascertaining the cost of any such construction work, the board\n\nshall cause such preliminary surveys, examinations, plans and\n\nspecifications to be made as shall furnish a proper basis for the\n\nestimation of the cost of such work. Such estimate of cost shall\n\ninclude the cost of advertising, appraising, engineering, election,\n\nand such other expense as is necessary or essential to the\n\ncompletion of the improvements. All such surveys, examinations,\n\nmaps, plans and estimates shall be made under the direction of a\n\nregistered professional engineer licensed under the laws of the\n\nState of Oklahoma and certified by him and filed with the secretary\n\nof the district. Upon the filing of such plans and specifications\n\nthe board of directors shall proceed to determine the amount of\n\nmoney necessary to be raised and shall immediately thereupon call a\n\nspecial election, at which shall be submitted to the electors of\n\nsuch district the question of whether or not the bonds of said\n\ndistrict shall be issued in the amount so determined; provided, such\n\nbonds shall not be issued for more than the actual estimated cost of\n\nsuch improvements and construction work as certified by such\n\nengineer. Notice of such election must be given by posting notice\n\nin three public places in each election precinct in said district,\n\nas established by said board, for at least ten (10) days, and also\n\nby publication of such notice in some newspaper published in the\n\ncounty once a week for at least two (2) consecutive weeks. Such\n\nnotice must specify the time of holding the election, the amount of\n\nbonds proposed to be issued, and state generally the purpose of the\n\nsame and the election must be held and the result thereof determined\n\nand declared in all respects as nearly as practicable in conformity\n\nwith the statutory provision governing the holding of elections in\n\ncities for the issuance of general obligation bonds; provided, no\n\ninformalities in conducting such election shall invalidate the same\n\nif the elections shall have been otherwise fairly conducted. At\n\nsuch an election the ballots shall contain the words, \"Bonds ______\n\nYes\", or \"Bonds _____ No\", or words equivalent thereto. If a\n\nmajority of the ballots cast are \"Bonds ______ Yes\", the board of\n\ndirectors shall pass a resolution providing for the issuance of said\n\nbonds. Such bonds shall be payable in lawful money of the United\n\nStates and shall run for a period of from ten (10) to twenty (20)\n\nyears as determined by the board of directors. The principal and\n\ninterest shall be payable at the office of the clerk of the board of\n\ndirectors or at any bank or fiscal agency designated by the board of\n\ndirectors. Such bonds shall be each of the denomination of not less\n\nthan One Hundred Dollars ($100.00) nor more than One Thousand\n\nDollars ($1,000.00), shall be negotiable in form, executed in the\n\nname of the district and signed by the director and the clerk and\n\nthe seal of the district shall be affixed thereto. Facsimile\n\nsignatures and seals may be used as provided in the Registered\n\nPublic Obligations Act of Oklahoma.\n\nIn the event the election hereinabove provided for is in favor\n\nof the issue of said bonds then the board of directors of said\n\ndistrict shall cause final estimates, plans, profiles and\n\nspecifications to be made for the work included in the preliminary\n\nplans and specifications by a registered professional engineer\nls may be used as provided in the Registered\n\nPublic Obligations Act of Oklahoma.\n\nIn the event the election hereinabove provided for is in favor\n\nof the issue of said bonds then the board of directors of said\n\ndistrict shall cause final estimates, plans, profiles and\n\nspecifications to be made for the work included in the preliminary\n\nplans and specifications by a registered professional engineer\n\nlicensed under the laws of the State of Oklahoma in which shall be\n\nincluded the cost of advertising, appraising, engineering and such\n\nother expenses as is necessary or essential to the completion of\n\nsaid improvement and shall by resolution adopt the same.\n\nThe bonds shall express on their face that they were issued by\n\nthe authority of Sections 871 et seq. of this title, stating its\n\ntitle and date of approval. The clerk or appointed agent shall keep\n\na record of the bonds. The bonds shall bear interest at a rate of\n\nnot exceeding six percent (6%) per annum.\n\nShould the election herein provided for result in a failure to\n\nauthorize the issuance of such bonds, the sewer improvement district\n\nshall be automatically dissolved, after the expiration of sixty (60)\n\ndays from the date of such election; provided, that should the board\n\nof directors call a second bond election, within said sixty (60)\n\ndays period, then the life of said sewer improvement district shall\n\nbe extended subject to the results of said second election. Should\n\nthe second election result in a failure to authorize the issuance of\n\nsaid bonds then said district shall be deemed to be automatically\n\ndissolved. The county election board shall file a report of all\n\nbond elections hereunder with the clerk of said board of directors\n\nand with the county clerk of said county.","path":["OK Code","Title 19"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os19.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"614ef7671b90f40238399e1d1e084cfd4a045c10a33539b23d71e48797cc8c1b","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-19-19-883","next":"us-ok/okla.-stat.-tit.-19-19-886"},"notice":"GroundRules: Original legal text. Not legal advice."}