Okla. Stat. tit. 62, § 62-657
This is the official text of Okla. Stat. tit. 62, § 62-657, 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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Refunding bonds
Official statutory text
Revenue bonds may be issued hereunder for the purpose of
refunding any obligations issued hereunder. Such refunding bonds
may be combined with bonds issued under the provisions of Section 3
of this act into a single issue. When bonds are issued under this
section for refunding purposes, such bonds may either be sold or
delivered in exchange for the outstanding obligations. If sold, the
proceeds may be either applied to the payment of the obligations
refunded or deposited in escrow for the retirement thereof. All
bonds issued under this section shall in all respects be authorized,
issued, and secured in the manner provided for other bonds issued
under this act and shall have all the attributes of such bonds. The
resolution under which such refunding bonds are issued may provide
that any of the said refunding bonds shall have the same priority of
lien on the revenues pledged for their payment as was enjoyed by the
obligations refunded thereby.
refunding any obligations issued hereunder. Such refunding bonds
may be combined with bonds issued under the provisions of Section 3
of this act into a single issue. When bonds are issued under this
section for refunding purposes, such bonds may either be sold or
delivered in exchange for the outstanding obligations. If sold, the
proceeds may be either applied to the payment of the obligations
refunded or deposited in escrow for the retirement thereof. All
bonds issued under this section shall in all respects be authorized,
issued, and secured in the manner provided for other bonds issued
under this act and shall have all the attributes of such bonds. The
resolution under which such refunding bonds are issued may provide
that any of the said refunding bonds shall have the same priority of
lien on the revenues pledged for their payment as was enjoyed by the
obligations refunded thereby.
Status: in_force · Read it on the official government site
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