Okla. Stat. tit. 11, § 11-24-119
This is the official text of Okla. Stat. tit. 11, § 11-24-119, 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.
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Irrevocable Contracts
Official statutory text
Irrevocable Contract. While any of the bonds issued by the
Authority shall remain outstanding or while the Authority has any
undischarged duties or obligations under any contract or agreement,
including obligations to any joint owner of any project, the powers,
Oklahoma Statutes - Title 11. Cities and Towns Page 230
duties or existence of the Authority or of its officers, employees
or agents shall not be diminished, impaired or affected in any
manner which will affect adversely the interest and right of the
owners of such bonds or the persons to whom such duties or
obligations are owed under such contracts or agreements. The
provisions of this act shall be for the benefit of the state, the
Authority, every owner of the Authority's bonds and every other
person to whom the Authority owes a duty or is obligated by contract
or agreement and, upon and after the issuance of bonds under the
provisions of this act, shall constitute an irrevocable contract by
the state with the owners of such bonds and the other persons to
whom the Authority owes a duty or is obligated by such contracts or
agreements.
Authority shall remain outstanding or while the Authority has any
undischarged duties or obligations under any contract or agreement,
including obligations to any joint owner of any project, the powers,
Oklahoma Statutes - Title 11. Cities and Towns Page 230
duties or existence of the Authority or of its officers, employees
or agents shall not be diminished, impaired or affected in any
manner which will affect adversely the interest and right of the
owners of such bonds or the persons to whom such duties or
obligations are owed under such contracts or agreements. The
provisions of this act shall be for the benefit of the state, the
Authority, every owner of the Authority's bonds and every other
person to whom the Authority owes a duty or is obligated by contract
or agreement and, upon and after the issuance of bonds under the
provisions of this act, shall constitute an irrevocable contract by
the state with the owners of such bonds and the other persons to
whom the Authority owes a duty or is obligated by such contracts or
agreements.
Status: in_force · Read it on the official government site
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