Okla. Stat. tit. 62, § 62-281
This is the official text of Okla. Stat. tit. 62, § 62-281, part of Oklahoma’s Stat. tit. 62, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 62,." Browse the sections below, each linked to its official government source.
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Municipal corporations holding public utility bonds -
Official statutory text
Readjustment of indebtedness under bankruptcy laws.
It shall be lawful for the board of county commissioners of any
county in the State of Oklahoma, or the board of education or other
governing board of any school district in the State of Oklahoma, or
the governing board of any other municipal corporation in the State
of Oklahoma, which holds or owns any public utility bonds of any
incorporated city or town of this state, the assessed valuation of
which is less than the face value of the entire issue of said bonds
and accrued interest thereon, to accept in writing any plan of
readjustment of said indebtedness of such city or town which may be
submitted by the governing board thereof under Section 80, of
Chapter IX, of the Bankruptcy Laws of the United States of America,
as amended in an act entitled "An Act to Establish an Uniform System
of Bankruptcy Throughout the United States" approved July 1, 1898,
and acts amendatory thereof and supplementary thereto, approved May
24, 1934, and to accept in full settlement of such indebtedness
either in cash or other securities of such incorporated city or
town, an amount less than the full amount due on the face of said
bonds and/or interest coupons.
It shall be lawful for the board of county commissioners of any
county in the State of Oklahoma, or the board of education or other
governing board of any school district in the State of Oklahoma, or
the governing board of any other municipal corporation in the State
of Oklahoma, which holds or owns any public utility bonds of any
incorporated city or town of this state, the assessed valuation of
which is less than the face value of the entire issue of said bonds
and accrued interest thereon, to accept in writing any plan of
readjustment of said indebtedness of such city or town which may be
submitted by the governing board thereof under Section 80, of
Chapter IX, of the Bankruptcy Laws of the United States of America,
as amended in an act entitled "An Act to Establish an Uniform System
of Bankruptcy Throughout the United States" approved July 1, 1898,
and acts amendatory thereof and supplementary thereto, approved May
24, 1934, and to accept in full settlement of such indebtedness
either in cash or other securities of such incorporated city or
town, an amount less than the full amount due on the face of said
bonds and/or interest coupons.
Status: in_force · Read it on the official government site
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