{"data":{"id":"us-ok/okla.-stat.-tit.-62-62-57.89","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 62, § 62-57.89","heading":"Delivery - Deposit of proceeds - Investment of surplus","body":"The 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, in a fund which is hereby created\n\nand designated the \"1965 Institutional Building Bond Fund Series C\",\n\nwhere they shall remain subject to disposition to be provided for by\n\nthe Legislature of this state, provided that the State Treasurer,\n\nwhen so 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 1965 Institutional Building\n\nBond Fund Series C in direct obligations of the United States of\n\nAmerica or in certificates of deposits from banks in this state\n\nacceptable as depositories by the State Treasurer when such\n\ncertificates of deposits are secured by the acceptable collateral\n\nand yield as much as or more than direct obligations of the United\n\nStates of America. All such investments of said monies must be made\n\nso that the same shall mature in time to enable this state to issue\n\nwarrants for payment of the valid indebtedness incurred for the\n\npurpose for which said bonds are issued, when the said indebtedness\n\nhas been incurred pursuant to legislative authority. The Director\n\nof the Office of Management and Enterprise Services and the Oklahoma\n\nState Regents for Higher Education shall promptly certify to the\n\nState Treasurer the amount of all sums not needed for payment of\n\nconstruction and other legal expenditures payable from the 1965\n\nInstitutional Building Bond Fund Series C to meet the construction\n\npayment schedule, and upon receipt of such certification the State\n\nTreasurer shall make the investment specified in this section. All\n\ninterest received by the State Treasurer upon the securities\n\nreferred to in this section shall be deposited in the 1965\n\nInstitutional Building Bond Fund Series C.\n\nAdded Laws 1967, c. 289, § 9, emerg. eff. May 8, 1967. Amended by","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":"45000284d56a158957c9d5751a4345d97d08a79f9877b50b8b30f39a23f286a2","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-62-62-57.88","next":"us-ok/okla.-stat.-tit.-62-62-57.9"},"notice":"GroundRules: Original legal text. Not legal advice."}