{"data":{"id":"us-ok/okla.-stat.-tit.-82-82-873","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 82, § 82-873","heading":"District authorized to purchase, fund or refund bonds,","body":"etc. - Interest rate swaps and other financial instruments.\n\nA. The Grand River Dam Authority is hereby authorized to fund\n\nand refund any and all lawful obligations and any and all revenue\n\nbonds issued, or contracted to be sold, by it by the issuance of new\n\nrevenue bonds, or from the proceeds of sale of new revenue bonds, or\n\nby the exchange of new revenue bonds and to renegotiate any\n\nagreement of indenture whereunder said obligations or revenue bonds\n\nauthorized to be funded and refunded hereby may be outstanding, or\n\ncontracted, but any new revenue bonds issued, exchanged or sold to\n\nfund or refund the outstanding obligations and revenue bonds and all\n\nagreements and indentures providing for the payment and securing\n\nthereof shall conform to the provisions of the Grand River Dam\n\nAuthority Act, as amended; provided, that no outstanding obligations\n\nor revenue bonds shall be funded or refunded or exchanged on the\n\nbasis of a price in excess of principal, accrued interest,\n\nredemption premium, or charges in excess of those provided by the\n\nobligations or revenue bonds or the indenture or agreement\n\nwhereunder issued or incurred, plus the necessary and reasonable\n\ncosts of funding, refunding or exchange thereof; provided, further\n\nthat said Authority shall have the power to purchase any revenue\n\nbonds issued, or contracted to be issued, by it at a price not\n\nexceeding the redemption price applicable at the time of purchase\n\nthereof, or, if no redemption price is fixed, then at principal plus\n\naccrued interest, from any funds available and provided for the\n\npayment of the revenue bonds.\n\nB. The Authority is further authorized to enter into interest\n\nrate swaps and other derivative products, and other financial\n\ninstruments intended to hedge interest rate risk or manage interest\n\nrate costs, including any option to enter into or terminate any of\n\nthem, that the Authority deems to be necessary or desirable in\n\nconnection with any bonds issued prior to, at the same time as, or\n\nafter entering into such arrangement, and containing such terms and\n\nprovisions, and may be with such parties, as determined by the\n\nAuthority. Provided, any action taken by the Authority pursuant to\n\nthis subsection must first be approved by the Office of the State\n\nBond Advisor and the Council of Bond Oversight pursuant to the\n\nprovisions of the Oklahoma Bond Oversight and Reform Act.","path":["OK Code","Title 82"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os82.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"f60d1c17e42cc978d06551c52833a238ad391d75a31a56329827149262648205","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-82-82-872","next":"us-ok/okla.-stat.-tit.-82-82-874"},"notice":"GroundRules: Original legal text. Not legal advice."}