Okla. Stat. tit. 62, § 62-57.125
This is the official text of Okla. Stat. tit. 62, § 62-57.125, 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.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
Sinking fund
Official statutory text
There is hereby created in the State Treasury a fund to be known
as the "State of Oklahoma Building Bonds of 1968 Sinking Fund"
(herein called the "sinking fund"), which is hereby irrevocably
pledged to the payment of the interest on, and principal of, the
bonds issued hereunder, and monies to the credit thereof shall be
paid out only in the manner and at the time and places provided for
in the resolution or resolutions of the Commission authorizing the
issuance of such bonds. Beginning on the first day of the month
following the adoption of said constitutional amendment, the
Oklahoma Tax Commission, when transmitting to the State Treasurer
the monthly collection of the tax on cigarettes, shall also transmit
to the State Treasurer a schedule showing the net proceeds of the
tax on each package of cigarettes levied by Section 1, Chapter 47,
1968 Oklahoma Session Laws. It shall be the duty of the State
Treasurer, upon receiving said taxes and schedules from the Oklahoma
Tax Commission, to deposit in the Sinking Fund such portions of the
cigarette tax or taxes hereinabove pledged to the payment of the
bonds issued hereunder as may be necessary to assure prompt payment
Oklahoma Statutes - Title 62. Public Finance Page 255
of the interest on, and the principal of, the outstanding State of
Oklahoma Building Bonds of 1968 as the same fall due.
as the "State of Oklahoma Building Bonds of 1968 Sinking Fund"
(herein called the "sinking fund"), which is hereby irrevocably
pledged to the payment of the interest on, and principal of, the
bonds issued hereunder, and monies to the credit thereof shall be
paid out only in the manner and at the time and places provided for
in the resolution or resolutions of the Commission authorizing the
issuance of such bonds. Beginning on the first day of the month
following the adoption of said constitutional amendment, the
Oklahoma Tax Commission, when transmitting to the State Treasurer
the monthly collection of the tax on cigarettes, shall also transmit
to the State Treasurer a schedule showing the net proceeds of the
tax on each package of cigarettes levied by Section 1, Chapter 47,
1968 Oklahoma Session Laws. It shall be the duty of the State
Treasurer, upon receiving said taxes and schedules from the Oklahoma
Tax Commission, to deposit in the Sinking Fund such portions of the
cigarette tax or taxes hereinabove pledged to the payment of the
bonds issued hereunder as may be necessary to assure prompt payment
Oklahoma Statutes - Title 62. Public Finance Page 255
of the interest on, and the principal of, the outstanding State of
Oklahoma Building Bonds of 1968 as the same fall due.
Status: in_force · Read it on the official government site
Need a lawyer in Oklahoma?
Find a Oklahoma lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.