{"data":{"id":"us-ok/okla.-stat.-tit.-62-62-57.35","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 62, § 62-57.35","heading":"Advertisement and sale of bonds","body":"The Commission shall advertise said bonds for sale in the manner\n\nhereinafter provided. Notice of such sale shall be published at\n\nleast twenty (20) days prior to the date fixed for such sale. Such\n\nnotice shall be published for at least two (2) consecutive weeks in\n\na newspaper having general circulation in the State of Oklahoma, and\n\nat least once in a financial periodical or newspaper known to have\n\ngeneral circulation among bond dealers and bond purchasers. Such\n\nnotice shall state the time and place when and where the Commission\n\nwill receive written bids for the purchase of the bonds so offered\n\nfor sale and shall also state that the bonds will be sold to the\n\nbidder bidding the lowest interest rate to the State of Oklahoma\n\nstating also, however, that the Commission may, in its discretion,\n\nreject all bids submitted and readvertise the bonds for sale. Such\n\nnotice may contain such other conditions, information and details as\n\nthe Commission deems appropriate and desirable to secure\n\nunderstanding of the offer and to assure maximum competition between\n\nbidders. Upon acceptance of the low bid (which shall not exceed an\n\naverage rate of interest exceeding three and six-tenths percent (3\n\n6/10%) 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 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":"bc886b1a5ec5b5ff9918a3e6b39981e725d63b54c43c9a07711f23e70df68f7f","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-62-62-57.34","next":"us-ok/okla.-stat.-tit.-62-62-57.36"},"notice":"GroundRules: Original legal text. Not legal advice."}