{"data":{"id":"us-ok/okla.-stat.-tit.-63-63-3280","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 63, § 63-3280","heading":"Issuance of bonds - Procedure - Characteristics -","body":"Approvals.\n\nA. Subject to the provisions of paragraph 11 of subsection A of\n\nSection 6 of this act, the Oklahoma State University Medical\n\nAuthority may provide by resolution, from time to time, for the\n\nissuance of revenue bonds for its lawful purposes, in such amount or\n\namounts as are necessary, incidental or convenient to the exercise\n\nof powers, rights, privileges and functions conferred upon it by the\n\nOklahoma State University Medical Authority Act or other law. The\n\nprincipal of and interest on any indebtedness shall be payable\n\nsolely from the revenues of the Authority and such other funds as\n\nmay be provided by law for such payment. The Authority may provide\n\nfor credit enhancement as additional security or liquidity for its\n\nbonds and enter into such agreements as may be necessary or\n\nappropriate to provide for the repayment of any funds advanced by\n\nthe provider of any such credit enhancement including the payment of\n\nany fees and expenses incurred in connection therewith. The bonds\n\nof each issue shall bear interest at fixed or variable rates and\n\nshall bear an average interest rate not to exceed eleven percent\n\n(11%) per annum, shall mature at such time or times not exceeding\n\nthirty (30) years from their date or dates of issue, as may be\n\ndetermined by the Authority, and may be made redeemable before\n\nmaturity at the option of the Authority, at such time or times and\n\nat such price or prices and pursuant to such terms and conditions as\n\nmay be fixed by the Authority prior to the issuance of the bonds.\n\nThe Authority shall determine the form of the bonds and the manner\n\nof execution thereof, and shall fix the denominations of the bonds\n\nand the place or places of payment of principal and interest, which\n\nmay be at any bank and trust company within or without this state.\n\nIf any officer whose signature or facsimile of whose signature\n\nappears on any bonds shall cease to be said officer before the\n\ndelivery of the bonds, the signature or the facsimile shall\n\nnevertheless be valid and sufficient for all purposes, the same as\n\nif the person had remained in office until such delivery. All bonds\n\nissued pursuant to the provisions of the Oklahoma State University\n\nMedical Authority Act shall have all the qualities and incidences of\n\nnegotiable instruments subject to the laws of this state. The\n\nAuthority may sell the bonds in such amounts and in such manner,\n\neither at public or private sale, and for such price, as it may\n\ndetermine to be in the best interests of the state. If the bonds\n\nare not sold by competitive bid, the sale must be approved by the\n\nState 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 14 of this act, bonds may be issued pursuant to the\n\nprovisions of the Oklahoma State University Medical Authority Act\n\nwithout obtaining the consent of any department, division,\n\ncommission, board, bureau, or agency of this state, and without any\n\nother proceedings or the occurrence of any other conditions or\n\nthings than those proceedings, conditions, or things that are\n\nspecifically required by the Oklahoma State University Medical\n\nAuthority.\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\nhings than those proceedings, conditions, or things that are\n\nspecifically required by the Oklahoma State University Medical\n\nAuthority.\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 the\n\nprovisions of the Oklahoma State University Medical 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":"8d0268eb336a066bab03af79e951161fc3863b264c01502b361e04c3240dad96","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-63-63-3279","next":"us-ok/okla.-stat.-tit.-63-63-3281"},"notice":"GroundRules: Original legal text. Not legal advice."}