Okla. Stat. tit. 11, § 11-37-231
This is the official text of Okla. Stat. tit. 11, § 11-37-231, 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 and pay in numerical
order the bonds or any number thereof in the following manner:
Whenever there shall be sufficient funds in the hands of the
municipal treasurer 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 upon the 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 bond or bonds for payment
and cancellation. The bond or 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 bond or bonds, proper entry
thereof shall be made upon the books of the clerk and treasurer or
appointed agent. Upon the accumulation of sufficient funds as
herein provided, the municipal treasurer shall pay the bonds so
called 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.
order the bonds or any number thereof in the following manner:
Whenever there shall be sufficient funds in the hands of the
municipal treasurer 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 upon the 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 bond or bonds for payment
and cancellation. The bond or 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 bond or bonds, proper entry
thereof shall be made upon the books of the clerk and treasurer or
appointed agent. Upon the accumulation of sufficient funds as
herein provided, the municipal treasurer shall pay the bonds so
called 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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