{"data":{"id":"us-ok/okla.-stat.-tit.-62-62-695.7","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 62, § 62-695.7","heading":"Deputy Treasurer for Debt Management","body":"A. The State Treasurer shall engage the services of a person\n\nknowledgeable in the current state of the art of national and\n\ninternational standards for the issuance of obligations by\n\ngovernmental entities and experienced in the negotiation of fees for\n\nvarious goods and services requisite to or deemed desirable in the\n\nissuance of such obligations as well as the negotiation of other\n\nmatters essential to provide the best current price and terms of the\n\nissuance of such obligations for the benefit of the State of\n\nOklahoma, who shall have the title \"Deputy Treasurer for Debt\n\nManagement\".\n\nWhen hiring a person to the position of Deputy Treasurer for\n\nDebt Management, the State Treasurer shall conduct a national search\n\nin seeking requests for proposals for the position.\n\nB. The State Treasurer may employ the necessary staff to carry\n\nout the duties related to debt management and the Council of Bond\n\nOversight.\n\nC. 1. Except as provided in Section 695.8 of this title, prior\n\nto engaging the services of underwriters, bond or other legal\n\ncounsel, financial advisors, consultants, a financial institution to\n\nserve as trustee, paying agent or in any fiduciary capacity in\n\nconnection with any program, indenture or general resolution of the\n\nState Governmental Entity, or any other experts, except as provided\n\nin Section 5062.8 of Title 74 of the Oklahoma Statutes, the State\n\nGovernmental Entity shall, in conjunction with a State Governmental\n\nEntity Financing, request proposals for such services from a\n\nplurality of persons engaged in the particular activity for such\n\nservices and the selection of such persons shall be made on the\n\nbasis of the response to the request which is the most economical\n\nand will provide competent service which furthers the best interest\n\nof the State Governmental Entity and the state. In negotiating\n\nrequests for proposals to engage such services, the State\n\nGovernmental Entity shall seek the advice and assistance of the\n\nDeputy Treasurer for Debt Management. Under no circumstances shall\n\nproprietary inducements be granted. The Deputy Treasurer for Debt\n\nManagement shall provide assistance and advice to State Governmental\n\nEntities with respect to the issuance of obligations by the State\n\nGovernmental Entities, review, negotiate, and approve or disapprove\n\nthe fees and expenses for goods and services requisite to or deemed\n\ndesirable in the issuance of State Governmental Entity obligations\n\nand State Governmental Entity Financing and shall represent the\n\ninterests of the state before rating agencies and credit enhancement\n\nproviders.\n\n2. Any State Governmental Entity or Local Governmental Entity\n\nproposing to make a significant modification to the terms of any\n\nState Governmental Entity Financing, including modification of\n\ncollateral by substitution, swap, or other derivative product shall\n\nfirst obtain the written approval of the Deputy Treasurer for Debt\n\nManagement. If the Deputy Treasurer for Debt Management denies\n\napproval, the State Governmental Entity or Local Governmental Entity\n\nmay request the Council of Bond Oversight to review and approve\n\nproposed modifications.\n\nD. The Deputy Treasurer for Debt Management shall serve as an\n\nadvisor to the Governor and to the Legislature with respect to\n\nissuance of indebtedness reviewed by the Council and shall prepare\n\nan annual report to be submitted to the Governor, the President Pro\n\nTempore of the Senate and the Speaker of the House of\n\nRepresentatives as of January 15 each year. The report shall\n\ncontain a summary of the issuance of indebtedness by State\n\nGovernmental Entities during the preceding year.\n\nE. The Deputy Treasurer for Debt Management or any member of\n\nthe immediate family of the Deputy Treasurer for Debt Management\n\nshall not have any direct or indirect financial or contractual\n\nrelationship with any firm or corporation or any officer, partner or\neach year. The report shall\n\ncontain a summary of the issuance of indebtedness by State\n\nGovernmental Entities during the preceding year.\n\nE. The Deputy Treasurer for Debt Management or any member of\n\nthe immediate family of the Deputy Treasurer for Debt Management\n\nshall not have any direct or indirect financial or contractual\n\nrelationship with any firm or corporation or any officer, partner or\n\nprincipal stockholder of any firm or corporation directly involved\n\nin public finance.","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":"0beac0fa57d8cf8f9a60ba8168df6e61349c32e9cf2f9838c21527db509e2fcc","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-62-62-695.6a","next":"us-ok/okla.-stat.-tit.-62-62-695.8"},"notice":"GroundRules: Original legal text. Not legal advice."}