{"data":{"id":"us-ok/okla.-stat.-tit.-62-62-57.193","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 62, § 62-57.193","heading":"Refunding bonds","body":"The Oklahoma Building Bonds Commission may issue bonds pursuant\n\nto the provisions of this section for the purpose of refunding any\n\noutstanding obligations issued by the Commission or the State of\n\nOklahoma Building Bonds Commission. The bonds may either be sold or\n\ndelivered in exchange for outstanding obligations. If sold, the\n\nproceeds may be either applied to the payment of the obligations\n\nbeing refunded or deposited in escrow for the retirement of the\n\nobligations. No outstanding obligations may be refunded which are\n\nnot maturing, callable for redemption under their terms or\n\nvoluntarily surrendered by their holders for cancellation, unless\n\nthe Commission covenants that sufficient funds to meet all remaining\n\ninterest and principal payments of the outstanding obligations when\n\ndue will be placed in escrow for such payments in the State Treasury\n\nat the time of delivery of and payment for the new bonds issued\n\nunder this section. All bonds authorized to be issued under this\n\nsection shall be secured in the same manner as provided for the\n\nbonds being refunded, except where more than one issue is being\n\nrefunded. The Commission may provide that the refunding bonds have\n\nthe same priority of payment and be paid from the same revenues as\n\nenjoyed by the obligations being refunded thereby. The Commission\n\nmay enter into contracts and engage in such other acts as the\n\nCommission deems necessary to effect the offer and sale of its\n\nrefunding bonds.","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":"7c829e21594c47c9fe5afa74b4f2df8be8dbbbbaf1da2fc41f8e8a05d79c0072","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-62-62-57.191","next":"us-ok/okla.-stat.-tit.-62-62-57.2"},"notice":"GroundRules: Original legal text. Not legal advice."}