Okla. Stat. tit. 62, § 62-424
This is the official text of Okla. Stat. tit. 62, § 62-424, 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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Tax for payment of bonds and creation of sinking fund
Official statutory text
The governing body, or authority of any county, city, town,
township, board of education, school district or other municipal
corporation, issuing refunding bonds under authority of this act,
shall provide, prior to the delivery of said refunding bonds, for a
levy of annual taxes on all taxable property in the county, city,
town, township, board of education, school district, or other
Oklahoma Statutes - Title 62. Public Finance Page 422
municipal corporations, 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 annually levy, 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.
township, board of education, school district or other municipal
corporation, issuing refunding bonds under authority of this act,
shall provide, prior to the delivery of said refunding bonds, for a
levy of annual taxes on all taxable property in the county, city,
town, township, board of education, school district, or other
Oklahoma Statutes - Title 62. Public Finance Page 422
municipal corporations, 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 annually levy, 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.
Status: in_force · Read it on the official government site
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