Okla. Stat. tit. 62, § 62-57.133
This is the official text of Okla. Stat. tit. 62, § 62-57.133, 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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Delivery of bonds upon payment - Deposit and investment
Official statutory text
of proceeds - Interest.
The bonds and interest coupons attached thereto shall be
delivered to the purchaser thereof only upon payment of par and
accrued interest to the date of delivery thereof, together with any
premium bid, if any. The proceeds of the sale of said bonds shall
be deposited in the State Treasury of the State of Oklahoma, in the
State of Oklahoma Building Bonds of 1968 Fund, where they shall
remain subject to disposition as provided for by the Legislature of
Oklahoma, provided that the State Treasurer of the State of
Oklahoma, when so directed by any agency to which a portion of such
fund has been appropriated as to the amount appropriated to such
agency, shall invest the amounts designated by such agency for the
period or periods of time specified by such agency in direct
obligations of the United States of America or in certificates of
deposits from banks in the State of Oklahoma acceptable as
depositories by the State Treasurer when such certificates of
deposits are secured by the acceptable collateral and yield as much
or more than direct obligations of the United States of America, and
provided further that all such investments of said monies must be so
made that the same shall mature in time to enable the State of
Oklahoma to issue warrants for payment of the valid indebtedness
incurred for the purpose for which said bonds are issued, when the
said indebtedness has been incurred pursuant to legislative
authority. It shall be the duty of each agency receiving an
appropriation to promptly certify to the State Treasurer the amount
of all sums not needed for payment of construction and other legal
expenditures payable from the fund to meet the construction payment
schedule, and upon receipt of such certification the State Treasurer
shall forthwith make the aforementioned investment. All interest
received by the State Treasurer upon the above-mentioned securities
after June 30, 1972, shall be deposited in the State of Oklahoma
Building Bonds of 1968 Sinking Fund. Any appropriations of such
deposited interest enacted prior to June 30, 1972, for the agency
for which the investment was made may be expended as provided
therein. Any unappropriated amounts of such deposited interest
credited on June 30, 1972, to the agency for which the investment
was made, as formerly authorized by this section, shall be
transferred to the General Revenue Fund.
The bonds and interest coupons attached thereto shall be
delivered to the purchaser thereof only upon payment of par and
accrued interest to the date of delivery thereof, together with any
premium bid, if any. The proceeds of the sale of said bonds shall
be deposited in the State Treasury of the State of Oklahoma, in the
State of Oklahoma Building Bonds of 1968 Fund, where they shall
remain subject to disposition as provided for by the Legislature of
Oklahoma, provided that the State Treasurer of the State of
Oklahoma, when so directed by any agency to which a portion of such
fund has been appropriated as to the amount appropriated to such
agency, shall invest the amounts designated by such agency for the
period or periods of time specified by such agency in direct
obligations of the United States of America or in certificates of
deposits from banks in the State of Oklahoma acceptable as
depositories by the State Treasurer when such certificates of
deposits are secured by the acceptable collateral and yield as much
or more than direct obligations of the United States of America, and
provided further that all such investments of said monies must be so
made that the same shall mature in time to enable the State of
Oklahoma to issue warrants for payment of the valid indebtedness
incurred for the purpose for which said bonds are issued, when the
said indebtedness has been incurred pursuant to legislative
authority. It shall be the duty of each agency receiving an
appropriation to promptly certify to the State Treasurer the amount
of all sums not needed for payment of construction and other legal
expenditures payable from the fund to meet the construction payment
schedule, and upon receipt of such certification the State Treasurer
shall forthwith make the aforementioned investment. All interest
received by the State Treasurer upon the above-mentioned securities
after June 30, 1972, shall be deposited in the State of Oklahoma
Building Bonds of 1968 Sinking Fund. Any appropriations of such
deposited interest enacted prior to June 30, 1972, for the agency
for which the investment was made may be expended as provided
therein. Any unappropriated amounts of such deposited interest
credited on June 30, 1972, to the agency for which the investment
was made, as formerly authorized by this section, shall be
transferred to the General Revenue Fund.
Status: in_force · Read it on the official government site
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