{"data":{"id":"us-ok/okla.-stat.-tit.-62-62-57.105","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 62, § 62-57.105","heading":"Advertisement for bids - Interest - Deposit","body":"The Commission shall advertise the Series D Bonds for sale in\n\nthe manner hereinafter provided. Notice of such sale shall be\n\npublished at least once in each of two (2) consecutive weeks prior\n\nto the date fixed for such sale in a newspaper having a general\n\ncirculation in the State of Oklahoma and at least once not less than\n\ntwenty (20) days prior to the date fixed for such sale in a\n\nfinancial periodical or newspaper known to have general circulation\n\namong bond dealers and bond purchasers. Such notice shall state the\n\ntime and place when and where the Commission will receive written\n\nbids for the purchase of the bonds so offered for sale and shall\n\nalso state that the bonds will be sold to the bidder bidding the\n\nlowest interest cost to the State of Oklahoma, such cost to be\n\ndetermined by deducting the total amount of any premium bid from the\n\naggregate amount of interest on all of the bonds from their date\n\nuntil their respective maturities, stating also, however, that the\n\nCommission may, in its discretion, reject all bids submitted and\n\nreadvertise the bonds for sale. Such notice may contain such other\n\nconditions, information and details as the Commission deems\n\nappropriate and desirable to secure understanding of the offer and\n\nto assure maximum competition between bidders. Upon acceptance of\n\nany bid (which shall name the interest rate or rates, not exceeding\n\nfive percent (5%) per annum), the bonds shall be issued in\n\naccordance therewith and shall be delivered to said purchaser upon\n\npayment of the purchase price thereof, which shall be not less than\n\npar plus accrued interest to date of delivery; provided, however,\n\nthat no tender of the bonds shall be valid until after the\n\nexpiration of the period of contestability provided for herein. All\n\nbidders shall be required to submit with their bids such good faith\n\ndeposit as may to the Commission seem appropriate. Upon the\n\nacceptance of a bid, the Commission shall return to all of the\n\nunsuccessful bidders the deposits so made by them. All such\n\ndeposits by the successful bidder shall become the property of the\n\nState of Oklahoma, and shall be credited upon the purchase price of\n\nthe bonds so sold and with the further agreement that if the\n\npurchaser shall fail for five (5) days after the tender of the bonds\n\nto pay the balance of the purchase price, said sale shall be thereby\n\nannulled and the deposit shall in such event be retained by the\n\nState of Oklahoma and credited to the General Revenue Fund of the\n\nstate.","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":"91488d27cb50166b4abae2225c344f98e210be44ea982cb2242517bd6ddba2ab","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-62-62-57.104","next":"us-ok/okla.-stat.-tit.-62-62-57.106"},"notice":"GroundRules: Original legal text. Not legal advice."}