Okla. Stat. tit. 62, § 62-57.6

Commissioners of Land Office.

In the event said bonds, or some portion thereof, are not sold

to the State Treasurer or the Commissioners of the Land Office, as

authorized in Section 5 hereof, then the Commission is authorized to

advertise said bonds or the unsold portion thereof, for sale to

other bidders and to sell said bonds, or the unsold portion thereof,

in the manner hereinafter provided. Notice of such sale shall be

published at least thirty (30) days prior to the date fixed for such

sale. Such notice shall be published for at least two (2)

consecutive weeks in a newspaper having general circulation in the

State of Oklahoma, and at least once in a financial periodical or

newspaper known to have general circulation among bond dealers and

bond purchasers. Such notice shall state the time and place when

and where the Commission will receive written bids for the purchase

of the bonds so offered for sale and shall also state that the bonds

will be sold to the bidder bidding the lowest interest rate to the

State of Oklahoma stating also, however, that the Commission may, in

its discretion, reject all bids submitted and readvertise the bonds

for sale. Such notice may contain such other conditions,

information and details as the Commission deems appropriate and

desirable to secure understanding of the offer and to assure maximum

competition between bidders. Upon acceptance of the low bid, the

bonds shall be issued in accordance therewith and shall be delivered

to said purchaser upon payment of the purchase price thereof, which

shall be not less than par plus accrued interest to date of

delivery. Provided, however, no tender of the bonds shall be valid

until after the expiration of the period of contestability, provided

for herein. All bidders shall be required to submit with their

bids, such good faith deposit as may to the Commission seem

appropriate. Upon the acceptance of a bid, the Commission shall

return to all of the unsuccessful bidders the deposits so made by

them. All such deposits shall be made upon the agreement that the

deposit made by the successful bidder shall become the property of

the State of Oklahoma, and shall be credited upon the purchase price

of the bonds so sold and with the further agreement that if the

purchaser shall fail for five (5) days after tender of the bonds, to

pay the balance of the purchase price, said sale shall be thereby

annulled and the deposit shall in such event be retained by the

Oklahoma Statutes - Title 62. Public Finance Page 199

State of Oklahoma and credited to the General Revenue Fund of the

state.