{"data":{"id":"us-ok/okla.-stat.-tit.-62-62-57.54","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 62, § 62-57.54","heading":"Form and terms - Call and redemption - Negotiability -","body":"Tax exemption.\n\nBonds issued under this act shall be serial coupon bonds and\n\nshall bear a rate of interest three and one-half percent (3 1/2%)\n\nper annum. Said bonds and the interest thereon shall be payable at\n\nthe Office of the State Treasurer. Said bonds may be issued in one\n\nor more series, may bear such date or dates, not earlier than July\n\n15, 1965, shall mature as follows: Three Hundred Thousand Dollars\n\n($300,000.00) on July 15, 1968, and Three Hundred Thousand Dollars\n\n($300,000.00) on the 15th day of July of each year thereafter to and\n\nincluding July 15, 1989, and Four Hundred Thousand Dollars\n\n($400,000.00) July 15, 1990, with interest payable semiannually on\n\nJanuary 15 and July 15 of each year, may be in such denomination or\n\ndenominations, may provide for a reserve to assure prompt payment of\n\nthe principal and interest of the bonds, may be in such form either\n\ncoupon or registered, may carry such registration or conversion\n\nprivileges, may be executed in such manner, may be payable in such\n\nmedium or payment at such place or places, as may be provided by\n\nresolution or resolutions to be adopted by the State of Oklahoma\n\nBuilding Bonds Commission. Provided, that all such bonds maturing\n\non and after ten (10) years from their dates may be subject to call\n\nand redemption, in inverse order of bond numbers, at par and accrued\n\ninterest, with the detailed provisions for such calling and\n\nredemption thereof to be fixed by the Commission in the resolution\n\nor resolutions for the issuance of such bonds. Until such time as\n\nthe State of Oklahoma Building Bonds of 1965 Sinking Fund shall be\n\nsufficient to retire all outstanding bonds and interest coupons,\n\nthere shall be paid into said sinking fund during each fiscal year,\n\nfrom the sources hereinabove pledged such amounts as may be\n\nnecessary to pay the interest and principal payable during the next\n\nsucceeding fiscal year, and an amount sufficient to satisfy the\n\nreserve requirements as fixed and provided by the State of Oklahoma\n\nBuilding Bonds Commission in its resolution authorizing the issuance\n\nof said bonds. All bonds issued pursuant to this act shall have all\n\nthe qualities and incidents of negotiable paper, and neither said\n\nbonds nor the interest earned thereon shall be subject to taxation\n\nby the State of Oklahoma or any county, municipality or political\n\nsubdivision thereof.","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":"bc918006f6eb01a9d67ac794569ddbed6c2a9a40c2c27bd95e55d1be70799d85","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-62-62-57.53","next":"us-ok/okla.-stat.-tit.-62-62-57.55"},"notice":"GroundRules: Original legal text. Not legal advice."}