{"data":{"id":"us-ok/okla.-stat.-tit.-62-62-57.18","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 62, § 62-57.18","heading":"Form and terms - Call and redemption - Negotiability -","body":"Tax exempt.\n\nBonds issued under this act shall be serial coupon bonds and shall\n\nbe issued to mature One Million Five Hundred Thousand Dollars\n\n($1,500,000.00) in each of the calendar years 1973 through 1982,\n\nboth inclusive, or if issued in series in proportionate amount\n\nthereof. Said bonds and the interest thereon shall be payable at the\n\noffice of the State Treasurer of the State of Oklahoma, and, if the\n\nbonds shall be sold to private purchasers, at a fiscal agency in\n\nOklahoma and/or New York City to be designated by the State of\n\nOklahoma Building Bonds Commission. Said bonds may be executed in\n\nsuch manner, may be issued in one or more series, may bear such date\n\nor dates, may be in such denomination or denominations, may provide\n\nfor a reserve to assure prompt payment of the principal and interest\n\nof the bonds, may be in such form either coupon or registered, may\n\nbe payable in such medium of payment at such times, as may be\n\nprovided by resolution or resolutions to be adopted by the State of\n\nOklahoma Building Bonds Commission. Provided, that all such bonds\n\nmaturing after ten (10) years from their dates may be subject to\n\ncall and redemption, in inverse order of bond numbers, at par and\n\naccrued interest, with the detailed provisions for such calling and\n\nredemption thereof to be fixed by the Commission in the resolution\n\nor resolutions for the issuance of such bonds. Until such time as\n\nthe State of Oklahoma Building Bonds of 1955 Sinking Fund shall be\n\nsufficient to retire all outstanding bonds and interest coupons,\n\nthere shall be paid into said sinking fund during each fiscal year,\n\nfrom the sources hereinabove pledged such amounts as may be\n\nnecessary to pay the interest and principal payable during the next\n\nsucceeding fiscal year, and an amount sufficient to satisfy the\n\nreserve requirements as fixed and provided by the State of Oklahoma\n\nBuilding Bonds Commission in its resolution authorizing the issuance\n\nof said bonds. In the event the bonds herein authorized to be\n\nissued and sold are sold to the State Treasurer or to the\n\nCommissioners of the Land Office of the State of Oklahoma, then, and\n\nin that event, all money in the State of Oklahoma Building Bonds of\n\n1955 Sinking Fund at the close of any fiscal year, in excess of a\n\nsum equal to all principal and interest coming due on said bonds in\n\nthe next succeeding fiscal year, shall be transferred by the State\n\nTreasurer to the General Revenue Fund of the state to be used as\n\nother monies accruing to said fund. All bonds issued pursuant to\n\nthis act shall have all the qualities and incidents of negotiable\n\npaper, and neither said bonds nor the interest earned thereon shall\n\nbe subject to taxation by the State of Oklahoma or any county,\n\nmunicipality or political subdivision thereof.","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":"7c1e416f74760eafb608ec7ee006d32ac7009c1b67bb3062a4a5cdbe9882e357","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-62-62-57.176","next":"us-ok/okla.-stat.-tit.-62-62-57.181"},"notice":"GroundRules: Original legal text. Not legal advice."}