Okla. Stat. tit. 62, § 62-57.185
This is the official text of Okla. Stat. tit. 62, § 62-57.185, 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 E Bonds, Section 1, this act, 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 the
Oklahoma Statutes - Title 62. Public Finance Page 273
agency to which an appropriation therefrom is made 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 obligation 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 and shall be used to pay the interest on such
Series E Bonds.
Oklahoma Statutes, to the contrary, the proceeds from the sale of
such Series E Bonds, Section 1, this act, 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 the
Oklahoma Statutes - Title 62. Public Finance Page 273
agency to which an appropriation therefrom is made 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 obligation 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 and shall be used to pay the interest on such
Series E Bonds.
Status: in_force · Read it on the official government site
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