{"data":{"id":"us-ok/okla.-stat.-tit.-62-62-57.39","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 62, § 62-57.39","heading":"Delivery of bonds upon payment - Deposit and investment","body":"of proceeds - Interest.\n\nThe bonds and interest coupons attached thereto shall be\n\ndelivered to the purchaser thereof only upon payment of par and\n\naccrued interest to the date of delivery thereof, together with any\n\npremium bid. The proceeds of the sale of said bonds shall be\n\ndeposited in the State Treasury of this state, in a fund which is\n\nhereby created and designated the \"1961 Building Bond Fund\", where\n\nthey shall remain subject to disposition to be provided for by the\n\nLegislature of this state, provided that the State Treasurer, when\n\nso directed by the Director of the Office of Management and\n\nEnterprise Services and the Oklahoma State Regents for Higher\n\nEducation acting on behalf of the governing boards, according to the\n\nfunds allocated, as to the amounts available for investment shall\n\ninvest said designated amounts of the 1961 Building Bond Fund in\n\ndirect obligations of the United States of America or in\n\ncertificates of deposits from banks in this state acceptable as\n\ndepositories by the State Treasurer when such certificates of\n\ndeposits are secured by acceptable collateral and yield as much as\n\nor more than direct obligations of the United States of America.\n\nAll such investments of said monies must be so made that the same\n\nshall mature in time to enable this state to issue warrants for\n\npayment of the valid indebtedness incurred for the purpose for which\n\nsaid bonds are issued, when the said indebtedness has been incurred\n\npursuant to legislative authority. The Director of the Office of\n\nManagement and Enterprise Services and the Oklahoma State Regents\n\nfor Higher Education shall promptly certify to the State Treasurer\n\nthe amount of all sums not needed for payment of construction and\n\nother legal expenditures payable from the 1961 Building Bond Fund to\n\nmeet the construction payment schedule, and upon receipt of such\n\ncertification the State Treasurer shall forthwith make the\n\ninvestment specified in this section. All interest received by the\n\nState Treasurer upon the securities referred to in this section\n\nshall be deposited in the 1961 Building Bond Fund.","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":"3021976693002692280aed5bc8bd1c18b4d620680254e92f54e6ae7403843faf","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-62-62-57.38","next":"us-ok/okla.-stat.-tit.-62-62-57.4"},"notice":"GroundRules: Original legal text. Not legal advice."}