Okla. Stat. tit. 62, § 62-414
This is the official text of Okla. Stat. tit. 62, § 62-414, 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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Annual tax levy to pay interest and principal - Sinking
Official statutory text
fund.
The governing body, or authority of any county, city, town,
township, board of education, school district or other municipal
corporation, issuing bonds under authority of this act, shall
provide, prior to the delivery thereof to the purchaser, for a levy
of annual taxes on all taxable property in the county, city, town,
township, board of education, school district or other municipal
corporation, as the case may be, sufficient in amount to pay, and
for the express purpose of paying, the interest on said bonds as it
falls due, and also to pay and discharge the principal thereof at
maturity; and, in every instance in which any county, city, town,
township, board of education, school district or other municipal
corporation shall issue bonds under this act, it shall be the
imperative duty of the proper officers, whose duty it may be to levy
taxes, to levy annually, at the time of making the levy of other
taxes, a tax sufficient in amount to pay the interest upon said
bonds and the coupons as they become due, and to create a sinking
fund for the payment of the principal of such bonds at their
maturity.
Oklahoma Statutes - Title 62. Public Finance Page 419
The governing body, or authority of any county, city, town,
township, board of education, school district or other municipal
corporation, issuing bonds under authority of this act, shall
provide, prior to the delivery thereof to the purchaser, for a levy
of annual taxes on all taxable property in the county, city, town,
township, board of education, school district or other municipal
corporation, as the case may be, sufficient in amount to pay, and
for the express purpose of paying, the interest on said bonds as it
falls due, and also to pay and discharge the principal thereof at
maturity; and, in every instance in which any county, city, town,
township, board of education, school district or other municipal
corporation shall issue bonds under this act, it shall be the
imperative duty of the proper officers, whose duty it may be to levy
taxes, to levy annually, at the time of making the levy of other
taxes, a tax sufficient in amount to pay the interest upon said
bonds and the coupons as they become due, and to create a sinking
fund for the payment of the principal of such bonds at their
maturity.
Oklahoma Statutes - Title 62. Public Finance Page 419
Status: in_force · Read it on the official government site
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