{"data":{"id":"us-ok/okla.-stat.-tit.-62-62-57.109","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 62, § 62-57.109","heading":"Delivery - Deposit of proceeds - Investment of surplus","body":"The bonds and interest coupons attached thereto shall be\n\ndelivered to the purchaser thereof only upon payment of par and\n\naccrued interest to the date of delivery thereof, together with any\n\npremium bid. The proceeds of the sale of said bonds shall be\n\ndeposited in the State Treasury in the sinking fund, where they\n\nshall remain subject to disposition as provided for by the\n\nLegislature of this state, provided that the State Treasurer, when\n\nso directed by the Director of the Office of Management and\n\nEnterprise Services and the Oklahoma State Regents for Higher\n\nEducation acting on behalf of the governing boards, according to the\n\nfunds allocated, as to the amounts available for investment shall\n\ninvest said designated amounts of the sinking fund in direct\n\nobligations of the United States of America or in certificates of\n\ndeposits from banks in this state acceptable as depositories by the\n\nState Treasurer when such certificates of deposits are secured by\n\nthe acceptable collateral and yield as much as or more than direct\n\nobligations of the United States of America. All such investments of\n\nsaid monies must be made so that the same shall mature in time to\n\nenable this state to issue warrants for payment of the valid\n\nindebtedness incurred for the purpose for which said bonds are\n\nissued, when the said indebtedness has been incurred pursuant to\n\nlegislative authority. The Director of the Office of Management and\n\nEnterprise Services and the Oklahoma State Regents for Higher\n\nEducation shall promptly certify to the State Treasurer the amount\n\nof all sums not needed for payment of construction and other legal\n\nexpenditures payable from the sinking fund to meet the construction\n\npayment schedule, and upon receipt of such certification the State\n\nTreasurer shall make the investment specified in this section. All\n\ninterest received by the State Treasurer upon the securities\n\nreferred to in this section shall be deposited in the sinking fund.","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":"ba76e17566a2493bc607cf64b863d3f3a7ef3707f5dafd5c8544db2e4785e2aa","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-62-62-57.108","next":"us-ok/okla.-stat.-tit.-62-62-57.11"},"notice":"GroundRules: Original legal text. Not legal advice."}