Okla. Stat. tit. 62, § 62-445
This is the official text of Okla. Stat. tit. 62, § 62-445, 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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Surplus of sinking fund - Transfer to general fund
Official statutory text
Where any county, city, town, or school district, dependent or
independent, has accumulated a surplus in the sinking fund thereof,
represented by actual cash on hand in excess of all outstanding bond
or judgment indebtedness, both matured and unmatured, including
coupon and/or other interest earnings thereon whether matured or
unmatured, earned or unearned, or if there be no known bond, coupon,
or judgment indebtedness outstanding against it, the county excise
board on application of the proper officers thereof is hereby
authorized to approve the transfer of said surplus in the sinking
fund of said county, city, town, or school district to be used for
general fund purposes of the same county, city, town, or school
district; provided, that before the excise board shall have
authority to consider or approve the application of the governing
board for authority to make such transfer, there shall be attached
to such application an affidavit and proof of publication of
published notice by such governing board of its intention to apply
for authority to make such transfer, which published notice shall
set forth in detail the condition of the sinking fund thereof or as
to the fact of there being no known bond, coupon or judgment
indebtedness outstanding. Such notice shall be published in some
newspaper of general circulation in such municipality, or in such
county if there be no newspaper published in the city, town, or
school district.
independent, has accumulated a surplus in the sinking fund thereof,
represented by actual cash on hand in excess of all outstanding bond
or judgment indebtedness, both matured and unmatured, including
coupon and/or other interest earnings thereon whether matured or
unmatured, earned or unearned, or if there be no known bond, coupon,
or judgment indebtedness outstanding against it, the county excise
board on application of the proper officers thereof is hereby
authorized to approve the transfer of said surplus in the sinking
fund of said county, city, town, or school district to be used for
general fund purposes of the same county, city, town, or school
district; provided, that before the excise board shall have
authority to consider or approve the application of the governing
board for authority to make such transfer, there shall be attached
to such application an affidavit and proof of publication of
published notice by such governing board of its intention to apply
for authority to make such transfer, which published notice shall
set forth in detail the condition of the sinking fund thereof or as
to the fact of there being no known bond, coupon or judgment
indebtedness outstanding. Such notice shall be published in some
newspaper of general circulation in such municipality, or in such
county if there be no newspaper published in the city, town, or
school district.
Status: in_force · Read it on the official government site
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