Okla. Stat. tit. 11, § 11-17-101
This is the official text of Okla. Stat. tit. 11, § 11-17-101, part of Oklahoma’s Stat. tit. 11, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 11,." Browse the sections below, each linked to its official government source.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
Borrowing or appropriating monies - Investments -
Official statutory text
Deposit of monies.
A. Any act of a municipal governing body which provides for the
borrowing of monies or for appropriating monies shall not be valid
Oklahoma Statutes - Title 11. Cities and Towns Page 108
unless a majority of the governing body of the municipality votes in
favor of the action. The municipal governing body may not
appropriate or draw any order on the treasurer for monies unless the
same has been appropriated in the manner provided by law or ordered
in pursuance of some object provided for by law.
B. A municipality may invest its funds in any bond, note, or
other evidence of indebtedness issued by those agencies,
authorities, instrumentalities, or public entities whose governing
boards are appointed by the municipality or issued by any public
trust of which it is sole beneficiary, excluding obligations which
are industrial development bonds as defined in the provisions of
Section 103 of the Internal Revenue Code of 1953, as amended, and
regulations promulgated thereto.
C. If a municipality has established a system for the separate
accounting of monies by fund sources that has been certified by the
auditor of the municipality, the treasurer of such municipality
acting as an officer of the municipality or as agent of any
instrumentality or public trust of the municipality may deposit into
one or more accounts of an authorized depository all monies coming
into his custody. Unless otherwise provided for by law, interest
earnings shall be prorated according to fund source.
A. Any act of a municipal governing body which provides for the
borrowing of monies or for appropriating monies shall not be valid
Oklahoma Statutes - Title 11. Cities and Towns Page 108
unless a majority of the governing body of the municipality votes in
favor of the action. The municipal governing body may not
appropriate or draw any order on the treasurer for monies unless the
same has been appropriated in the manner provided by law or ordered
in pursuance of some object provided for by law.
B. A municipality may invest its funds in any bond, note, or
other evidence of indebtedness issued by those agencies,
authorities, instrumentalities, or public entities whose governing
boards are appointed by the municipality or issued by any public
trust of which it is sole beneficiary, excluding obligations which
are industrial development bonds as defined in the provisions of
Section 103 of the Internal Revenue Code of 1953, as amended, and
regulations promulgated thereto.
C. If a municipality has established a system for the separate
accounting of monies by fund sources that has been certified by the
auditor of the municipality, the treasurer of such municipality
acting as an officer of the municipality or as agent of any
instrumentality or public trust of the municipality may deposit into
one or more accounts of an authorized depository all monies coming
into his custody. Unless otherwise provided for by law, interest
earnings shall be prorated according to fund source.
Status: in_force · Read it on the official government site
Need a lawyer in Oklahoma?
Find a Oklahoma lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.