{"data":{"id":"us-ok/okla.-stat.-tit.-70-70-695.9","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 70, § 70-695.9","heading":"Oklahoma Student Loan Bonds - Oklahoma Student Loan","body":"Notes.\n\nUpon determination that a need exists under the Oklahoma Student\n\nLoan Act, the Authority shall by resolution provide for the issuance\n\nof negotiable revenue bonds called the \"Oklahoma Student Loan Bonds\"\n\nor the issuance of notes called the \"Oklahoma Student Loan Notes\",\n\nor both. The bonds of each issue shall be dated and bear interest\n\nas prescribed by the Authority. The bonds shall mature serially or\n\notherwise not later than thirty (30) years from their date and may\n\nbe redeemable before maturity at the option of the Authority at\n\nprices and under terms and conditions fixed by the Authority in its\n\nresolution providing for the issuance of the bonds. The resolution\n\nshall also determine the form of the bonds, including the form of\n\nany interest coupon to be attached thereto, and shall fix the\n\ndenominations of the bonds and the place of the payment of the\n\nprincipal and interest thereon. The bonds shall be executed on\n\nbehalf of the Authority payable only from the funds specified in the\n\nOklahoma Student Loan Act, and shall not be payable from funds\n\nreceived or to be received from taxation. The bonds shall be signed\n\nby the chairman and the secretary of the Authority in accordance\n\nwith the Uniform Facsimile Signature of Public Officials Act.\n\nInterest coupons shall bear the facsimile signature of the secretary\n\nof the Authority. If any officer whose manual or facsimile\n\nsignature appears on any bond or coupon ceases to be an officer\n\nbefore delivery of the bonds, the signature is valid as if he had\n\nremained in office until the delivery had been made. The resolution\n\nmay provide for registration of the bonds as to ownership and for\n\nsuccessive conversion and reconversion from registered to bearer\n\nbonds and vice versa. Before any bonds are delivered to the\n\npurchasers, the record pertaining thereto shall be examined by the\n\nAttorney General, and the record and bonds shall be approved by him.\n\nAfter approval, the bonds shall be registered with the Authority.\n\nAfter approval and delivery to the purchasers, the bonds shall\n\nconstitute obligations of the Authority, and are negotiable\n\ninstruments under the laws of the state. The bonds may be sold at\n\npublic or private sale by the Authority at prices and in accordance\n\nwith procedures and terms it determines to be advantageous and\n\nreasonably obtainable. The Authority may provide for replacement of\n\nany bond which may be mutilated or destroyed.\n\nNeither the bonds issued under this act nor any loans made\n\npursuant hereto shall be guaranteed by the State of Oklahoma, and\n\nthe state shall not place the full faith and credit under obligation\n\nunder the terms of this act.","path":["OK Code","Title 70"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os70.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"02cf8e331182766044a409134afa12ce8bcd2910aab6caf270bd0f203bea8be5","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-70-70-695.7","next":"us-ok/okla.-stat.-tit.-70-70-697.1"},"notice":"GroundRules: Original legal text. Not legal advice."}