{"data":{"id":"us-ok/okla.-stat.-tit.-74-74-5063.12","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 74, § 74-5063.12","heading":"Term of bonds - Direct or private placement sale -","body":"Notice of sale - Bids and bidding.\n\nThe bonds shall have such terms and may be issued in accordance\n\nwith the applicable provisions of the Oklahoma Development Finance\n\nAuthority Act, Section 5062.1 et seq. of this title, except that the\n\nbonds shall mature no later than twenty-five (25) years after the\n\ndate of such bonds and shall be sold in one or a combination of the\n\nfollowing methods:\n\n1. By direct or private placement sale, provided bids are\n\nsolicited from a register of no less than five (5) institutions\n\nmaintained by the Authority, including entities of the State of\n\nOklahoma having the legal ability to invest in general obligations\n\nof the State of Oklahoma. The Authority shall award the sale, if\n\nany, to the bidder offering to purchase the bonds at a price which\n\nresults in the lowest net interest cost to the state as determined\n\nby computing the total interest cost from date to maturity, and\n\ndeducting therefrom any premium bid and adding thereto the amount of\n\nany discount bid; or\n\n2. By public sale on sealed bids, after notice published by the\n\nchairman of the board of directors of the Authority for at least one\n\ninsertion not less than ten (10) days before the date of sale in a\n\nnewspaper of general circulation in this state and in a financial\n\nnewspaper or journal published in the Borough of Manhattan, City and\n\nState of New York. The Authority shall award the sale, if any, to\n\nthe bidder offering to purchase the bonds at a price which results\n\nin the lowest net interest cost to the state as determined by\n\ncomputing the total interest cost from date to maturity, and\n\ndeducting therefrom any premium bid and adding thereto the amount of\n\nany discount bid. The Authority shall reserve the right to reject\n\nall bids. The notice shall contain such other terms and provisions\n\nas the Authority determines to be desirable.","path":["OK Code","Title 74"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os74.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"93d01c33146fa27029a462cf4647a5fee847e8b32c7fa8cfa0f3ccad28765ea3","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-74-74-5063.11","next":"us-ok/okla.-stat.-tit.-74-74-5063.13"},"notice":"GroundRules: Original legal text. Not legal advice."}