Okla. Stat. tit. 62, § 62-57.165
This is the official text of Okla. Stat. tit. 62, § 62-57.165, 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,
Oklahoma Statutes, to the contrary, the proceeds from the sale of
such Series C Bonds shall be deposited in the State of Oklahoma
Building Bonds of 1968 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 House Bill No. 1797 of the Second
Session of the Thirty-third 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 shall be deposited
by the State Treasurer in the State of Oklahoma Building Bonds of
1968 Sinking Fund.
Oklahoma Statutes, to the contrary, the proceeds from the sale of
such Series C Bonds shall be deposited in the State of Oklahoma
Building Bonds of 1968 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 House Bill No. 1797 of the Second
Session of the Thirty-third 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 shall be deposited
by the State Treasurer in the State of Oklahoma Building Bonds of
1968 Sinking Fund.
Status: in_force · Read it on the official government site
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