{"data":{"id":"us-ok/okla.-stat.-tit.-62-62-57.34","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 62, § 62-57.34","heading":"Form and terms - Call and redemption - Negotiability -","body":"Tax exemption.\n\nBonds issued under this act shall be serial coupon bonds. Said\n\nbonds and the interest thereon shall be payable at such place or\n\nplaces as may be designated by the State of Oklahoma Building Bonds\n\nCommission. Said bonds may be issued in one or more series, may\n\nbear such date or dates, not earlier than July 15, 1961, shall\n\nmature as follows: One Million Five Hundred Thousand Dollars\n\n($1,500,000.00) on July 15, 1964, One Million Five Hundred Thousand\n\nDollars ($1,500,000.00) on the 15th day of July of each year\n\nthereafter to and including July 15, 1985, and Two Million Five\n\nHundred Thousand Dollars ($2,500,000.00) on July 15, 1986 with\n\ninterest payable semiannually on January 15 and July 15 of each\n\nyear, may be in such denomination or denominations, may provide for\n\na reserve to assure prompt payment of the principal and interest of\n\nthe bonds, may be in such form either coupon or registered, may\n\ncarry such registration or conversion privileges, may be executed in\n\nsuch manner, may be payable in such medium or payment at such place\n\nor places, as may be provided by resolution or resolutions to be\n\nadopted by the State of Oklahoma Building Bonds Commission.\n\nProvided, that all such bonds maturing on and after ten (10) years\n\nfrom their dates may be subject to call and redemption, in inverse\n\norder of bond numbers, at par and accrued interest, with the\n\ndetailed provisions for such calling and redemption thereof to be\n\nfixed by the Commission in the resolution or resolutions for the\n\nissuance of such bonds. Until such time as the State of Oklahoma\n\nBuilding Bonds of 1961 Sinking Fund shall be sufficient to retire\n\nall outstanding bonds and interest coupons, there shall be paid into\n\nsaid sinking fund during each fiscal year, from the sources\n\nhereinabove pledged such amounts as may be necessary to pay the\n\ninterest and principal payable during the next succeeding fiscal\n\nyear, and an amount sufficient to satisfy the reserve requirements\n\nas fixed and provided by the State of Oklahoma Building Bonds\n\nCommission in its resolution authorizing the issuance of said bonds.\n\nAll bonds issued pursuant to this act shall have all the qualities\n\nand incidents of negotiable paper, and neither said bonds nor the\n\ninterest earned thereon shall be subject to taxation by the State of\n\nOklahoma or any county, municipality or political subdivision\n\nthereof.","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":"ab1eacc5b6799877995af90f91b63ea4dc7124ba6af2474ed66dc571b7b2255b","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-62-62-57.33","next":"us-ok/okla.-stat.-tit.-62-62-57.35"},"notice":"GroundRules: Original legal text. Not legal advice."}