Okla. Stat. tit. 62, § 62-57.65
This is the official text of Okla. Stat. tit. 62, § 62-57.65, 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.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
Advertisement and sale of bonds
Official statutory text
The Commission shall advertise said bonds for sale in the manner
hereinafter provided. Notice of such sale shall be published at
least twenty (20) 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 (which shall not exceed an
average rate of interest exceeding four percent (4%) per annum), 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 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
Oklahoma Statutes - Title 62. Public Finance Page 231
purchaser shall fail for five (5) days after the 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
State of Oklahoma and credited to the General Revenue Fund of the
state.
hereinafter provided. Notice of such sale shall be published at
least twenty (20) 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 (which shall not exceed an
average rate of interest exceeding four percent (4%) per annum), 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 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
Oklahoma Statutes - Title 62. Public Finance Page 231
purchaser shall fail for five (5) days after the 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
State of Oklahoma and credited to the General Revenue Fund of the
state.
Status: in_force · Read it on the official government site
Need a lawyer in Oklahoma?
Find a Oklahoma lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.