Okla. Stat. tit. 62, § 62-446
This is the official text of Okla. Stat. tit. 62, § 62-446, 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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Transfer of surplus to general fund - Reduction of ad
Official statutory text
valorem tax levy - Construction of permanent improvements.
Whenever any city or town of the State of Oklahoma shall have
accumulated an amount of money in its sinking fund sufficient to pay
at maturity the principal and interest of all its outstanding bonds,
coupons and judgments, any surplus money in said fund, after all
outstanding bonds, judgments or other charges against said sinking
funds have been fully paid, whether maturing in the current or in
future years, may be transferred by the governing body of such city
or town to its general fund to be used in reducing the ad valorem
tax levies for the ensuing fiscal year or years, or in constructing
public buildings or other permanent improvements as the governing
body may determine.
Oklahoma Statutes - Title 62. Public Finance Page 432
Whenever any city or town of the State of Oklahoma shall have
accumulated an amount of money in its sinking fund sufficient to pay
at maturity the principal and interest of all its outstanding bonds,
coupons and judgments, any surplus money in said fund, after all
outstanding bonds, judgments or other charges against said sinking
funds have been fully paid, whether maturing in the current or in
future years, may be transferred by the governing body of such city
or town to its general fund to be used in reducing the ad valorem
tax levies for the ensuing fiscal year or years, or in constructing
public buildings or other permanent improvements as the governing
body may determine.
Oklahoma Statutes - Title 62. Public Finance Page 432
Status: in_force · Read it on the official government site
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