Okla. Stat. tit. 62, § 62-544
This is the official text of Okla. Stat. tit. 62, § 62-544, 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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Apportionment of interest
Official statutory text
On or before the last day of each month the State Treasurer and
the treasurer of each county, city, town and board of education
shall apportion and place to the credit of the sinking fund or
sinking funds in his custody all interest earned and collected from
the investment of such sinking funds, as provided in the first and
foregoing section of this act; provided, that in counties, where
Oklahoma Statutes - Title 62. Public Finance Page 452
invested securities have heretofore been purchased for the joint use
and benefit of the several school districts and/or townships
thereof, the amount so credited to each such sinking fund account
shall bear the same ratio to the whole amount of interest so
collected, as the amount of such investment credited to the sinking
fund account of each such school district and/or township bears to
the total amount so invested, in which last event the apportionment
of such interest earnings shall be made immediately prior to the
30th day of June of each year.
the treasurer of each county, city, town and board of education
shall apportion and place to the credit of the sinking fund or
sinking funds in his custody all interest earned and collected from
the investment of such sinking funds, as provided in the first and
foregoing section of this act; provided, that in counties, where
Oklahoma Statutes - Title 62. Public Finance Page 452
invested securities have heretofore been purchased for the joint use
and benefit of the several school districts and/or townships
thereof, the amount so credited to each such sinking fund account
shall bear the same ratio to the whole amount of interest so
collected, as the amount of such investment credited to the sinking
fund account of each such school district and/or township bears to
the total amount so invested, in which last event the apportionment
of such interest earnings shall be made immediately prior to the
30th day of June of each year.
Status: in_force · Read it on the official government site
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