Okla. Stat. tit. 62, § 62-357
This is the official text of Okla. Stat. tit. 62, § 62-357, 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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Rate of interest on funding or refunding bonds - Period
Official statutory text
elapsing before refund.
Funding or refunding bonds of a county, city, town, township,
board of education or school district issued under existing laws may
not bear a greater rate of interest than the indebtedness which is
funded or refunded, or may bear such rate or rates of interest which
shall not constitute a greater overall interest cost existing on
indebtedness which is funded or refunded. Provided that no bonded
and/or interest coupon indebtedness shall be refunded except such as
Oklahoma Statutes - Title 62. Public Finance Page 399
have been issued and outstanding at least one (1) year at the time
of such refunding.
Funding or refunding bonds of a county, city, town, township,
board of education or school district issued under existing laws may
not bear a greater rate of interest than the indebtedness which is
funded or refunded, or may bear such rate or rates of interest which
shall not constitute a greater overall interest cost existing on
indebtedness which is funded or refunded. Provided that no bonded
and/or interest coupon indebtedness shall be refunded except such as
Oklahoma Statutes - Title 62. Public Finance Page 399
have been issued and outstanding at least one (1) year at the time
of such refunding.
Status: in_force · Read it on the official government site
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