{"data":{"id":"us-ok/okla.-stat.-tit.-62-62-395","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 62, § 62-395","heading":"Duty to issue bonds as agreed - Bonded indebtedness which","body":"may be refunded - Limitations on issuance of bonds.\n\nWhen a refunding has been agreed upon, it shall be the duty of\n\nthe proper officers to issue such bonds at the rate agreed upon, to\n\nthe holder of such indebtedness, in the manner prescribed in this\n\narticle; but no bonds shall be issued under this article until the\n\nproper evidence of the indebtedness for which the same are to be\n\nissued shall be delivered up for cancellation: Provided, that no\n\nbonded indebtedness shall be refunded by the board of county\n\ncommissioners or any mayor and city council or any board of trustees\n\nof any town, township or any school district board, or board of\n\neducation, under this article, except such as have been issued and\n\noutstanding at least two (2) years at the time of such refunding;\n\nand Provided, further, that except for the refunding of outstanding\n\ndebt, including outstanding bonds and matured coupons thereof, or\n\njudgments thereon, or warrants, no bonds of any class or description\n\nshall hereafter be issued where the total bonded indebtedness of\n\nsaid county, city, town, township, school district or board of\n\neducation would thereby exceed five percent (5%) of the assessment\n\nfor taxation as shown by the last finding and determination by the\n\nproper board of equalization for state and county purposes.","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":"a24530980db3bde4615edde3c2431d4e1ffe7883b4f91cdfc6a0f3de61fd1ea5","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-62-62-394","next":"us-ok/okla.-stat.-tit.-62-62-396"},"notice":"GroundRules: Original legal text. Not legal advice."}