{"data":{"id":"us-ok/okla.-stat.-tit.-62-62-57.20","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 62, § 62-57.20","heading":"Sales to others than Treasurer or Commissioners","body":"In the event said bonds, or some portion thereof, are not sold to\n\nthe State Treasurer or the Commissioners of the Land Office, as\n\nauthorized in Section 5 hereof, then the Commissioner is authorized\n\nto advertise said bonds or the unsold portion thereof, for sale to\n\nother bidders and to sell said bonds, or the unsold portion thereof,\n\nin the manner hereinafter provided. Notice of such sale shall be\n\npublished at least thirty (30) days prior to the date fixed for such\n\nsale. Such notice shall be published for at least two (2)\n\nconsecutive weeks in a newspaper having general circulation in the\n\nState of Oklahoma, and at least once in a financial periodical or\n\nnewspaper known to have general circulation among bond dealers and\n\nbond purchasers. Such notice shall state the time and place when\n\nand where the Commission will receive written bids for the purchase\n\nof the bonds so offered for sale and shall also state that the bonds\n\nwill be sold to the bidder bidding the lowest interest rate to the\n\nState of Oklahoma stating also, however, that the Commission may, in\n\nits discretion, reject all bids submitted and readvertise the bonds\n\nfor 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 the low bid (which\n\nshall not exceed an average rate of interest exceeding three percent\n\n(3%) 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, no tender\n\nof the bonds shall be valid until after the expiration of the period\n\nof contestability, provided for herein. All bidders shall be\n\nrequired to submit with their bids, such good faith deposit as may\n\nto the Commission seem appropriate. Upon the acceptance of a bid,\n\nthe Commission shall return to all of the unsuccessful bidders the\n\ndeposits so made by them. All such deposits shall become the\n\nproperty of the State of Oklahoma, and shall be credited upon the\n\npurchase price of the bonds so sold and with the further agreement\n\nthat if the purchaser shall fail for five (5) days after the tender\n\nof the bonds, to pay the balance of the purchase price, said sale\n\nshall be thereby annulled and the deposit shall in such event be\n\nretained by the State of Oklahoma and credited to the General\n\nRevenue 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":"3d827f22ed5c6f89f8ea6b093f979ec244f3b3e22cf4dbfa8e0988172230426b","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-62-62-57.2","next":"us-ok/okla.-stat.-tit.-62-62-57.200"},"notice":"GroundRules: Original legal text. Not legal advice."}