{"data":{"id":"us-ok/okla.-stat.-tit.-62-62-57.65","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 62, § 62-57.65","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 four percent (4%) per annum), 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 bids\n\nsuch good faith deposit as may to the Commission seem appropriate.\n\nUpon the acceptance of a bid, the Commission shall return to all of\n\nthe unsuccessful bidders the deposits so made by them. All such\n\ndeposits by the successful bidder shall become the property of the\n\nState of Oklahoma, and shall be credited upon the purchase price of\n\nthe bonds so sold and with the further agreement that if the\n\npurchaser shall fail for five (5) days after the tender of the bonds\n\nto pay 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":"3043b385b78cc0bedd2f20210b024c56fb7a601b7bcc5526c520db505bb7737b","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-62-62-57.64","next":"us-ok/okla.-stat.-tit.-62-62-57.66"},"notice":"GroundRules: Original legal text. Not legal advice."}