{"data":{"id":"us-ok/okla.-stat.-tit.-63-63-3215","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 63, § 63-3215","heading":"Issuance of bonds - Resolution - Amount - Principal and","body":"interest - Credit enhancement - Form - Execution - Denominations -\n\nPlace of payment - Signatures - Qualities and incidences - Manner of\n\nsale - Fees and expenses - Interim receipts or temporary bonds -\n\nReplacement bonds - Consent of issue - Refunding bonds.\n\nA. Subject to the provisions of paragraph 12 of subsection B of\n\nSection 8 of this act, the University Hospitals Authority may\n\nprovide by resolution, from time to time, for the issuance of\n\nrevenue bonds for its lawful purposes, in such amount or amounts as\n\nare necessary, incidental or convenient to the exercise of powers,\n\nrights, privileges and functions conferred upon it by the University\n\nHospitals Authority Act or other law. The principal of and interest\n\non any indebtedness shall be payable solely from the revenues of the\n\nAuthority and such other funds as may be provided by law for such\n\npayment. The Authority may provide for credit enhancement as\n\nadditional security or liquidity for its bonds and enter into such\n\nagreements as may be necessary or appropriate to provide for the\n\nrepayment of any funds advanced by the provider of any such credit\n\nenhancement including the payment of any fees and expenses incurred\n\nin connection therewith. The bonds of each issue shall bear\n\ninterest at fixed or variable rates and shall bear an average\n\ninterest rate not to exceed eleven percent (11%) per annum, shall\n\nmature at such time or times not exceeding thirty (30) years from\n\ntheir date or dates of issue, as may be determined by the Authority,\n\nand may be made redeemable before maturity at the option of the\n\nAuthority, at such time or times and at such price or prices and\n\npursuant to such terms and conditions as may be fixed by the\n\nAuthority prior to the issuance of the bonds. The Authority shall\n\ndetermine the form of the bonds and the manner of execution thereof,\n\nand shall fix the denominations of the bonds and the place or places\n\nof payment of principal and interest, which may be at any bank and\n\ntrust company within or without this state. If any officer whose\n\nsignature or facsimile of whose signature appears on any bonds shall\n\ncease to be said officer before the delivery of the bonds, the\n\nsignature or the facsimile shall nevertheless be valid and\n\nsufficient for all purposes, the same as if the person had remained\n\nin office until such delivery. All bonds issued pursuant to the\n\nprovisions of the University Hospitals Authority Act shall have all\n\nthe qualities and incidences of negotiable instruments subject to\n\nthe laws of this state. The Authority may sell the bonds in such\n\namounts and in such manner, either at public or private sale, and\n\nfor such price, as it may determine to be in the best interests of\n\nthe state. If the bonds are not sold by competitive bid, the sale\n\nmust be approved by the State Bond Advisor.\n\nB. All fees and expenses of bond sales must be approved by the\n\nState Bond Advisor and the Bond Oversight Commission. Prior to the\n\npreparation of definitive bonds, the Authority, subject to like\n\nrestrictions, may issue interim receipts or temporary bonds, with or\n\nwithout coupons, exchangeable for definitive bonds which have been\n\nexecuted and are available for delivery. The Authority may also\n\nprovide for the replacement of any bonds which have become mutilated\n\nor which have been destroyed or lost. Except as otherwise provided\n\nby Section 19 of this act, bonds may be issued pursuant to the\n\nprovisions of the University Hospitals Authority Act without\n\nobtaining the consent of any department, division, commission,\n\nboard, bureau, or agency of this state, and without any other\n\nproceedings or the occurrence of any other conditions or things than\n\nthose proceedings, conditions, or things that are specifically\n\nrequired by the University Hospitals Authority.\n\nC. The Authority may, by resolution, provide for the issuance\nitals Authority Act without\n\nobtaining the consent of any department, division, commission,\n\nboard, bureau, or agency of this state, and without any other\n\nproceedings or the occurrence of any other conditions or things than\n\nthose proceedings, conditions, or things that are specifically\n\nrequired by the University Hospitals Authority.\n\nC. The Authority may, by resolution, provide for the issuance\n\nof refunding bonds then outstanding, including the payment of any\n\nredemption premium, any interest accrued to the date of redemption\n\nof such bonds, and for incurring additional indebtedness for its\n\nlawful purposes. The issuance of such bonds shall be governed by\n\nthe provisions of the University Hospitals Authority Act.","path":["OK Code","Title 63"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os63.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"fe50ba185e51eb0402466f8abc448fd8d1a82ee98c75c0f8cb6d6b27810cc3a4","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-63-63-3214","next":"us-ok/okla.-stat.-tit.-63-63-3216"},"notice":"GroundRules: Original legal text. Not legal advice."}