Okla. Stat. tit. 2, § 2-4009

A. Subject to the provisions of paragraph 11 of subsection A of

Section 6 of this act, the Oklahoma State University Veterinary

Medicine Authority may provide by resolution, from time to time, for

the issuance of revenue bonds for its lawful purposes, in such

amount or amounts as are necessary, incidental or convenient to the

exercise of powers, rights, privileges and functions conferred upon

it by the Oklahoma State University Veterinary Medicine Authority

Act or other law. The principal of and interest on any indebtedness

shall be payable solely from the revenues of the Authority and such

other funds as may be provided by law for such payment. The

Authority may provide for credit enhancement as additional security

or liquidity for its bonds and enter into such agreements as may be

necessary or appropriate to provide for the repayment of any funds

advanced by the provider of any such credit enhancement including

the payment of any fees and expenses incurred in connection

therewith. The bonds of each issue shall bear interest at fixed or

variable rates and shall bear an average interest rate not to exceed

eleven percent (11%) per annum, shall mature at such time or times

not exceeding thirty (30) years from their date or dates of issue,

as may be determined by the Authority, and may be made redeemable

before maturity at the option of the Authority, at such time or

times and at such price or prices and pursuant to such terms and

conditions as may be fixed by the Authority prior to the issuance of

the bonds. The Authority shall determine the form of the bonds and

the manner of execution thereof, and shall fix the denominations of

the bonds and the place or places of payment of principal and

interest, which may be at any bank and trust company within or

without this state. If any officer whose signature or facsimile of

whose signature appears on any bonds shall cease to be said officer

before the delivery of the bonds, the signature or the facsimile

shall nevertheless be valid and sufficient for all purposes, the

same as if the person had remained in office until such delivery.

All bonds issued pursuant to the provisions of the Oklahoma State

University Veterinary Medicine Authority Act shall have all the

qualities and incidences of negotiable instruments subject to the

laws of this state. The Authority may sell the bonds in such

Oklahoma Statutes - Title 2. Agriculture Page 782

amounts and in such manner, either at public or private sale, and

for such price, as it may determine to be in the best interests of

the state. If the bonds are not sold by competitive bid, the sale

must be approved by the State Bond Advisor.

B. All fees and expenses of bond sales must be approved by the

State Bond Advisor and the Bond Oversight Commission. Prior to the

preparation of definitive bonds, the Authority, subject to like

restrictions, may issue interim receipts or temporary bonds, with or

without coupons, exchangeable for definitive bonds which have been

executed and are available for delivery. The Authority may also

provide for the replacement of any bonds which have become mutilated

or which have been destroyed or lost. Except as otherwise provided

by Section 14 of this act, bonds may be issued pursuant to the

provisions of the Oklahoma State University Veterinary Medicine

Authority Act without obtaining the consent of any department,

division, commission, board, bureau, or agency of this state, and

without any other proceedings or the occurrence of any other

conditions or things than those proceedings, conditions, or things

that are specifically required by the Oklahoma State University

Veterinary Medicine Authority.

C. The Authority may, by resolution, provide for the issuance

of refunding bonds then outstanding, including the payment of any

redemption premium, any interest accrued to the date of redemption

of such bonds, and for incurring additional indebtedness for its
hose proceedings, conditions, or things

that are specifically required by the Oklahoma State University

Veterinary Medicine Authority.

C. The Authority may, by resolution, provide for the issuance

of refunding bonds then outstanding, including the payment of any

redemption premium, any interest accrued to the date of redemption

of such bonds, and for incurring additional indebtedness for its

lawful purposes. The issuance of such bonds shall be governed by

the provisions of the Oklahoma State University Veterinary Medicine

Authority Act.