{"data":{"id":"us-ok/okla.-stat.-tit.-62-62-15","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 62, § 62-15","heading":"Issuance and sale of general obligation bonds – Procedures","body":"- Fees.\n\nA. In all stages of proceedings leading to the issuance and\n\nsale of general obligation bonds pledging the full faith and credit\n\nof the state, it shall be a duty of the Attorney General to perform\n\nall necessary legal work incident thereto. Neither the Attorney\n\nGeneral nor any other officer of the state may use any public funds\n\nto pay for the services of a private attorney or consulting fee in\n\nconnection with such work. Neither the Attorney General nor\n\nAssistant Attorney General shall receive any remuneration, other\n\nthan salary, for legal services performed in proceedings leading to\n\nthe issuance and sale of bonds as provided in this act. If a\n\nmarketing opinion is desired, the bond buyers shall pay for its\n\nprocurement.\n\nB. In all proceedings leading to the issuance and sale of\n\nrevenue bonds by any state agency acting pursuant to a specific\n\nlegislative validating act, a private attorney or attorneys may be\n\nemployed when the legislative validating act does not prohibit such\n\nemployment. The employment contract with the private attorney or\n\nattorneys shall be filed of record with the Attorney General. In no\n\ncase shall the employed private attorney be paid a fee in excess of\n\nthat authorized in the validating act. In addition, the Attorney\n\nGeneral is authorized to charge an examination fee for review and\n\napproval of revenue bond or note proceedings, as provided for in\n\nsubsection E of this section. If a marketing opinion is desired,\n\nthe bond buyers shall pay for its procurement.\n\nC. In all proceedings leading to the issuance and sale of\n\ngeneral obligation bonds or revenue bonds by any state agency acting\n\npursuant to a specific legislative validating act, any financial or\n\nmarketing consultant employed by the state for services relative to\n\nthe marketing of such bonds shall not be paid a fee in excess of\n\nthat authorized in the validating act.\n\nD. Except for the provisions of subsection E of this section,\n\nnothing herein shall apply to legal proceedings leading to the\n\nissuance or sale of bonds pursuant to Article X, Sections 26, 27 and\n\n35 of the Oklahoma Constitution or to any obligation issued by\n\npublic trusts under the Public Trust Act (except those trusts\n\ncreated by the state as contrasted to its subdivisions or other\n\ngovernmental entities), the Interlocal Cooperation Act and the Local\n\nIndustrial Development Act.\n\nE. In all proceedings leading to the issuance and sale of\n\nrevenue bonds or notes by any state agency, or the issuance and sale\n\nof general or limited obligation bonds pledging the faith and\n\ncredit, whether general or special, of the state or any political\n\nsubdivision thereof, where the Attorney General is required by law\n\nto review such proceedings, the Attorney General is authorized to\n\ncharge and collect a nonrefundable examination fee, payable at the\n\ntime the proceedings are finally approved and bonds or notes are\n\ndelivered. The issuer may reimburse itself for the examination fee\n\nfrom the proceeds of the bond or note issue. Such examination fee\n\nshall not exceed the following amounts:\n\n1. Three one-hundredths of one percent (0.03%) of the first\n\nFive Million Dollars ($5,000,000.00) of the principal amount of\n\nbonds or notes issued; and\n\n2. Two one-hundredths of one percent (0.02%) of any principal\n\namount of bonds or notes issued in excess of Five Million Dollars\n\n($5,000,000.00), up to and including Fifty Million Dollars\n\n($50,000,000.00); and\n\n3. One one-hundredth of one percent (0.01%) of any principal\n\namount of bonds or notes in excess of Fifty Million Dollars\n\n($50,000,000.00).\n\nAll fees collected as authorized by this subsection shall be\n\ndeposited in the Attorney General’s Revolving Fund created in\n\nSection 20 of Title 74 of the Oklahoma Statutes.","path":["OK Code","Title 62"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os62.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"38a48fb97b220a5cd2c9bd8d0d12cf36c921405f9b059c6ee0bef57a186d5a5c","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-62-62-14","next":"us-ok/okla.-stat.-tit.-62-62-155"},"notice":"GroundRules: Original legal text. Not legal advice."}