{"data":{"id":"us-ok/okla.-stat.-tit.-2-2-15-89","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 2, § 2-15-89","heading":"Bonds - Interest - Denominations - Payment - Signatures –","body":"Attestation - Registration - Sale - Issuance and delivery - Deposit\n\nby purchaser - Tender of bonds - Rejection of bids - Resale.\n\nA. The bonds issued shall bear interest at a rate not to exceed\n\nthe maximum rate provided by Section 498.1 of Title 62 of the\n\nOklahoma Statutes, per annum, payable semiannually, and shall be\n\nissued in denominations of One Hundred Dollars ($100.00), or any\n\nmultiple thereof not to exceed One Thousand Dollars ($1,000.00).\n\nB. The entire amount of the bond issue shall be payable within\n\ntwenty-five (25) years. The bonds shall be signed by the chairman\n\nof the board of county commissioners and attested by the county\n\nclerk. Facsimile signatures may be used as provided in the\n\nRegistered Public Obligations Act of Oklahoma. The bonds shall be\n\nregistered in the office of the county clerk and in the office of\n\nthe county treasurer or by their authorized agent.\n\nC. All bonds shall be sold to the bidder who will pay therefor\n\npar and accrued interest, and who shall stipulate in his or her bid\n\nthe lowest rate of interest which the bonds shall bear.\n\nD. Upon the acceptance of the bid, the bonds shall be issued in\n\naccordance therewith and shall be delivered to the purchaser upon\n\npayment of the purchase price thereof. The bidder shall submit with\n\nhis or her bid a sum in cash, or its equivalent, equal to two\n\npercent (2%) of his or her bid. Upon acceptance of any bid, the\n\ndeposit shall become the property of the county selling the bonds,\n\nand shall be credited to the purchase price thereof upon the\n\nunderstanding that if the purchaser fails to pay the balance of the\n\npurchase price within five (5) days after the tender of the bonds,\n\nthe sale shall be thereby annulled, and the deposit shall be\n\nretained by the county commissioners and credited to the account for\n\nwhich such bonds are being issued.\n\nE. No tender of the bonds shall be valid until after the\n\nexpiration of the period of contestability as now provided by law.\n\nAll other deposits shall be returned.\n\nF. The county commissioners selling such bonds shall have the\n\nright to reject all bids and readvertise the bonds for sale.","path":["OK Code","Title 2"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os2.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"b33196a9540e043c8608896725104deddec0466aae4d4b146178b17e4990968b","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-2-2-15-88","next":"us-ok/okla.-stat.-tit.-2-2-15-9"},"notice":"GroundRules: Original legal text. Not legal advice."}