{"data":{"id":"us-ok/okla.-stat.-tit.-62-62-57.6","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 62, § 62-57.6","heading":"Sale of bonds not sold to State Treasurer or","body":"Commissioners of Land Office.\n\nIn the event said bonds, or some portion thereof, are not sold\n\nto the State Treasurer or the Commissioners of the Land Office, as\n\nauthorized in Section 5 hereof, then the Commission is authorized to\n\nadvertise 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, the\n\nbonds shall be issued in accordance therewith and shall be delivered\n\nto said purchaser upon payment of the purchase price thereof, which\n\nshall be not less than par plus accrued interest to date of\n\ndelivery. Provided, however, no tender of the bonds shall be valid\n\nuntil after the expiration of the period of contestability, provided\n\nfor herein. All bidders shall be required to submit with their\n\nbids, such good faith deposit as may to the Commission seem\n\nappropriate. Upon the acceptance of a bid, the Commission shall\n\nreturn to all of the unsuccessful bidders the deposits so made by\n\nthem. All such deposits shall be made upon the agreement that the\n\ndeposit made by the successful bidder shall become the property of\n\nthe State of Oklahoma, and shall be credited upon the purchase price\n\nof the bonds so sold and with the further agreement that if the\n\npurchaser shall fail for five (5) days after tender of the bonds, to\n\npay the balance of the purchase price, said sale shall be thereby\n\nannulled and the deposit shall in such event be retained by the\n\nState of Oklahoma and credited to the General Revenue Fund of the\n\nstate.","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":"50b85dc34ecb10bc6971934c2a76cebbaf61541202e8848df1dd008b07daf07c","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-62-62-57.59","next":"us-ok/okla.-stat.-tit.-62-62-57.60"},"notice":"GroundRules: Original legal text. Not legal advice."}