Okla. Stat. tit. 11, § 11-36-303
This is the official text of Okla. Stat. tit. 11, § 11-36-303, 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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Bond payment and cancellation
Official statutory text
The municipality shall have the right to call in and pay the
bonds or any number thereof in the following manner: Whenever there
shall be sufficient funds in the hands of the municipal treasurer
Oklahoma Statutes - Title 11. Cities and Towns Page 341
after the payment of all interest due and to become due within the
next six (6) months, the treasurer, on or before March 10 and
September 10 of any year, shall give notice by certified mail
addressed to the last registered holder of the bonds called at the
address appearing on his registry, that there has accumulated funds
sufficient to pay the designated bonds and interest thereon to April
1 next or October 1 next, as the case may be, and directing the
presentation of the bonds for payment and cancellation. The bonds
which are called will cease to bear interest after April 1 or
October 1, as provided in the notice. Upon the payment and
cancellation of the bonds, proper entry thereof shall be made upon
the books of the clerk and treasurer. Upon the accumulation of
sufficient funds as herein provided to pay one or more bonds, the
municipal treasurer shall call and pay such bonds, and in the event
of failure to do so, he shall be liable for all such damages as may
result therefrom. The provisions of this section may be enforced by
appropriate proceedings in mandamus against the treasurer.
bonds or any number thereof in the following manner: Whenever there
shall be sufficient funds in the hands of the municipal treasurer
Oklahoma Statutes - Title 11. Cities and Towns Page 341
after the payment of all interest due and to become due within the
next six (6) months, the treasurer, on or before March 10 and
September 10 of any year, shall give notice by certified mail
addressed to the last registered holder of the bonds called at the
address appearing on his registry, that there has accumulated funds
sufficient to pay the designated bonds and interest thereon to April
1 next or October 1 next, as the case may be, and directing the
presentation of the bonds for payment and cancellation. The bonds
which are called will cease to bear interest after April 1 or
October 1, as provided in the notice. Upon the payment and
cancellation of the bonds, proper entry thereof shall be made upon
the books of the clerk and treasurer. Upon the accumulation of
sufficient funds as herein provided to pay one or more bonds, the
municipal treasurer shall call and pay such bonds, and in the event
of failure to do so, he shall be liable for all such damages as may
result therefrom. The provisions of this section may be enforced by
appropriate proceedings in mandamus against the treasurer.
Status: in_force · Read it on the official government site
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