Okla. Stat. tit. 62, § 62-426
This is the official text of Okla. Stat. tit. 62, § 62-426, 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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Acceptance of funding or refunding bonds in lieu of
Official statutory text
warrants, judgments or bonds in sinking fund.
The governing board of any county, city, town, township, board
of education, school district or any other municipal corporation of
this state, holding in its sinking fund either warrants, judgments
or bonds, is authorized to enter into an agreement with the
governing board of the municipality against which said warrants,
judgments or bonds are an obligation thereof, to accept funding or
refunding bonds in lieu of said obligations. Said agreement shall
provide for the rate of interest said funding or refunding bonds
shall bear, which may be less than the rate of interest the
indebtedness to be funded bears.
The governing board of any county, city, town, township, board
of education, school district or any other municipal corporation of
this state, holding in its sinking fund either warrants, judgments
or bonds, is authorized to enter into an agreement with the
governing board of the municipality against which said warrants,
judgments or bonds are an obligation thereof, to accept funding or
refunding bonds in lieu of said obligations. Said agreement shall
provide for the rate of interest said funding or refunding bonds
shall bear, which may be less than the rate of interest the
indebtedness to be funded bears.
Status: in_force · Read it on the official government site
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