Okla. Stat. tit. 62, § 62-753.1
This is the official text of Okla. Stat. tit. 62, § 62-753.1, 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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Issuance of general obligation refunding bonds not to
Official statutory text
have certain effects.
The issuance of general obligation refunding bonds pursuant to
the General Obligation Public Securities Refunding Act, to refund
all or any portion of outstanding general obligation bonds shall not
have the effect of extinguishing the requirements of either Section
26 or Section 27 of Article X of the Oklahoma Constitution that the
proceeds of such bonds to be refunded shall be expended only for the
purposes or projects for which such bonds were approved. The
issuance of general obligation refunding bonds to refund all or any
portion of outstanding general obligation bonds issued under and
pursuant to Section 27 of Article X of the Oklahoma Constitution
shall not have the effect of extinguishing the requirement that
public utilities purchased, constructed, or repaired with the
proceeds of such bonds shall be owned exclusively by the city or
town which issued such bonds.
The issuance of general obligation refunding bonds pursuant to
the General Obligation Public Securities Refunding Act, to refund
all or any portion of outstanding general obligation bonds shall not
have the effect of extinguishing the requirements of either Section
26 or Section 27 of Article X of the Oklahoma Constitution that the
proceeds of such bonds to be refunded shall be expended only for the
purposes or projects for which such bonds were approved. The
issuance of general obligation refunding bonds to refund all or any
portion of outstanding general obligation bonds issued under and
pursuant to Section 27 of Article X of the Oklahoma Constitution
shall not have the effect of extinguishing the requirement that
public utilities purchased, constructed, or repaired with the
proceeds of such bonds shall be owned exclusively by the city or
town which issued such bonds.
Status: in_force · Read it on the official government site
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