Okla. Stat. tit. 62, § 62-57.155
This is the official text of Okla. Stat. tit. 62, § 62-57.155, 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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Deposit of proceeds - Investment
Official statutory text
Notwithstanding the provisions of Section 57.133, Title 62 of
the Oklahoma Statutes, to the contrary, the proceeds from the sale
of such Series B Bonds shall be deposited in the State of Oklahoma
Building Bonds of 1968 Sinking Fund, where the proceeds shall remain
subject to disposition as provided for by the Legislature of
Oklahoma, provided that it shall be the duty of each agency to which
an appropriation therefrom is made by Senate Bill No. 656 of the
Second Session of the Thirty-second Legislature to advise in writing
the State Treasurer of the dates and amounts when each such
appropriated sum or portion thereof will be required by such agency
to satisfy its program for the expenditure thereof, such written
advice to be delivered by each such agency to the State Treasurer
within ten (10) days of the sale of such bonds, and it shall be the
duty of the State Treasurer to invest the proceeds from the sale of
such bonds in direct obligations of the United States of America or
in certificates of deposit from banks in Oklahoma acceptable as
depositories by the State Treasurer when such certificates of
deposit are secured by acceptable collateral and yield as much or
more than direct obligations of the United States of America,
maturing at such times and in such amounts as to enable the State of
Oklahoma to issue warrants in the amounts and at the times indicated
by the said agencies in their said written advices to the State
Treasurer, and the income from such investments after June 30, 1972,
shall be deposited by the State Treasurer 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 Oklahoma Statutes, to the contrary, the proceeds from the sale
of such Series B Bonds shall be deposited in the State of Oklahoma
Building Bonds of 1968 Sinking Fund, where the proceeds shall remain
subject to disposition as provided for by the Legislature of
Oklahoma, provided that it shall be the duty of each agency to which
an appropriation therefrom is made by Senate Bill No. 656 of the
Second Session of the Thirty-second Legislature to advise in writing
the State Treasurer of the dates and amounts when each such
appropriated sum or portion thereof will be required by such agency
to satisfy its program for the expenditure thereof, such written
advice to be delivered by each such agency to the State Treasurer
within ten (10) days of the sale of such bonds, and it shall be the
duty of the State Treasurer to invest the proceeds from the sale of
such bonds in direct obligations of the United States of America or
in certificates of deposit from banks in Oklahoma acceptable as
depositories by the State Treasurer when such certificates of
deposit are secured by acceptable collateral and yield as much or
more than direct obligations of the United States of America,
maturing at such times and in such amounts as to enable the State of
Oklahoma to issue warrants in the amounts and at the times indicated
by the said agencies in their said written advices to the State
Treasurer, and the income from such investments after June 30, 1972,
shall be deposited by the State Treasurer 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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