{"data":{"id":"us-ok/okla.-stat.-tit.-62-62-57.129","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 62, § 62-57.129","heading":"Advertisement and sale of bonds","body":"The Commission shall advertise the bonds for sale in the manner\n\nhereinafter provided. Notice of such sale shall be published at\n\nleast once in each of two (2) consecutive weeks prior to the date\n\nfixed for such sale in a newspaper having a general circulation in\n\nthe State of Oklahoma and at least once not less than twenty (20)\n\ndays prior to the date fixed for such sale in a financial periodical\n\nor newspaper known to have general circulation among bond dealers\n\nand bond purchasers. Such notice shall state the time and place\n\nwhen and where the Commission will receive written bids for the\n\npurchase of the bonds so offered for sale and shall also state that\n\nthe bonds will be sold to the bidder bidding the lowest interest\n\ncost to the State of Oklahoma, such cost to be determined by\n\ndeducting the total amount of any premium bid from the aggregate\n\namount of interest on all of the bonds from their date until their\n\nrespective maturities, stating also, however, that the Commission\n\nmay, in its discretion, reject all bids submitted and readvertise\n\nthe bonds for sale. Such notice may contain such other conditions,\n\ninformation and details as the Commission deems appropriate and\n\ndesirable to secure understanding of the offer and to assure maximum\n\ncompetition between bidders. Upon acceptance of any bid (which\n\nshall name the interest rate or rates, not exceeding six percent\n\n(6%) per annum), the bonds shall be issued in accordance therewith\n\nand shall be delivered to said purchaser upon payment of the\n\npurchase price thereof, which shall be not less than par plus\n\naccrued interest to date of delivery; provided, however, that no\n\ntender of the bonds shall be valid until after the expiration of the\n\nperiod of contestability provided for herein. All bidders shall be\n\nrequired to submit with their bids such good faith deposit as may to\n\nthe Commission seem appropriate. Upon the acceptance of a bid, the\n\nCommission shall return to all of the unsuccessful bidders the\n\ndeposits so made by them. All such deposits by the successful\n\nbidder shall become the property of the State of Oklahoma, and shall\n\nbe credited upon the purchase price of the bonds so sold and with\n\nthe further agreement that, if the purchaser shall fail for five (5)\n\ndays after the tender of the bonds to pay the balance of the\n\npurchase price, said sale shall be thereby annulled and the deposit\n\nshall in such event be retained by the State of Oklahoma and\n\ncredited to the General Revenue Fund of the state.","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":"c0b7a6ca0a2c0f8963e210ff58f80646e53ce8f9cbeb9463ce9c697ca1b0dd2a","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-62-62-57.128","next":"us-ok/okla.-stat.-tit.-62-62-57.13"},"notice":"GroundRules: Original legal text. Not legal advice."}