{"data":{"id":"us-ok/okla.-stat.-tit.-19-19-901.16","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 19, § 19-901.16","heading":"Requisites of bonds, notes or other evidences of","body":"indebtedness.\n\nSuch bonds shall be payable in lawful money of the United States\n\nand shall run for a period of not more than forty (40) years, the\n\namount, maturity dates, redemption provisions and interest rates to\n\nbe determined by the board of directors. The principal and interest\n\nshall be payable at the office of the treasurer of the county in\n\nwhich said district shall be organized, or at any bank or paying\n\nagency designated by the board of directors. Such bonds shall each\n\nbe of a denomination of not less than One Thousand Dollars\n\n($1,000.00) nor more than Five Thousand Dollars ($5,000.00), shall\n\nbe negotiable in form, executed in the name of the district, and\n\nsigned by the president of the board of directors and the clerk of\n\nthe district. In addition and without limiting the generality of\n\nthe foregoing provisions, the district shall be authorized to issue\n\nnotes or other evidences of indebtedness for the corporate purposes\n\nenumerated in Sections 901.1 through 901.26 of this title in the\n\nsame manner and subject to the same procedures as bonds issued by\n\nthe district. Notwithstanding the provisions of Section 901.17 of\n\nthis title, bonds, notes or other evidences of indebtedness may be\n\nsold by the board of directors to the federal government or any\n\nagency thereof at negotiated or private sale. Bonds shall be\n\nnumbered consecutively as issued and shall be dated as of the date\n\nof issuance, and shall be payable in their numerical order with\n\ninterest to date of payment.\n\nThe bonds shall express upon their face that they are issued\n\npursuant to a duly adopted resolution of the board of directors for\n\nthe district and under the provisions of Sections 901.1 through\n\n901.26 of this title. The clerk or agent shall keep a record of the\n\nbonds sold, their number, date of sale, the prices received and the\n\nname of the purchaser. These bonds shall bear interest at the rate\n\nof not exceeding sixteen percent (16%) per annum.","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":"58500e9b023d8b8e2a4035c2bfd7badda8c4f88d6df18b0f012e6475a2a6a295","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-19-19-901.15","next":"us-ok/okla.-stat.-tit.-19-19-901.17"},"notice":"GroundRules: Original legal text. Not legal advice."}