Okla. Stat. tit. 63, § 63-3215

interest - Credit enhancement - Form - Execution - Denominations -

Place of payment - Signatures - Qualities and incidences - Manner of

sale - Fees and expenses - Interim receipts or temporary bonds -

Replacement bonds - Consent of issue - Refunding bonds.

A. Subject to the provisions of paragraph 12 of subsection B of

Section 8 of this act, the University Hospitals Authority may

provide by resolution, from time to time, for the issuance of

revenue bonds for its lawful purposes, in such amount or amounts as

are necessary, incidental or convenient to the exercise of powers,

rights, privileges and functions conferred upon it by the University

Hospitals Authority Act or other law. The principal of and interest

on any indebtedness shall be payable solely from the revenues of the

Authority and such other funds as may be provided by law for such

payment. The Authority may provide for credit enhancement as

additional security or liquidity for its bonds and enter into such

agreements as may be necessary or appropriate to provide for the

repayment of any funds advanced by the provider of any such credit

enhancement including the payment of any fees and expenses incurred

in connection therewith. The bonds of each issue shall bear

interest at fixed or variable rates and shall bear an average

interest rate not to exceed eleven percent (11%) per annum, shall

mature at such time or times not exceeding thirty (30) years from

their date or dates of issue, as may be determined by the Authority,

and may be made redeemable before maturity at the option of the

Authority, at such time or times and at such price or prices and

pursuant to such terms and conditions as may be fixed by the

Oklahoma Statutes - Title 63. Public Health and Safety Page 1527

Authority prior to the issuance of the bonds. The Authority shall

determine the form of the bonds and the manner of execution thereof,

and shall fix the denominations of the bonds and the place or places

of payment of principal and interest, which may be at any bank and

trust company within or without this state. If any officer whose

signature or facsimile of whose signature appears on any bonds shall

cease to be said officer before the delivery of the bonds, the

signature or the facsimile shall nevertheless be valid and

sufficient for all purposes, the same as if the person had remained

in office until such delivery. All bonds issued pursuant to the

provisions of the University Hospitals Authority Act shall have all

the qualities and incidences of negotiable instruments subject to

the laws of this state. The Authority may sell the bonds in such

amounts and in such manner, either at public or private sale, and

for such price, as it may determine to be in the best interests of

the state. If the bonds are not sold by competitive bid, the sale

must be approved by the State Bond Advisor.

B. All fees and expenses of bond sales must be approved by the

State Bond Advisor and the Bond Oversight Commission. Prior to the

preparation of definitive bonds, the Authority, subject to like

restrictions, may issue interim receipts or temporary bonds, with or

without coupons, exchangeable for definitive bonds which have been

executed and are available for delivery. The Authority may also

provide for the replacement of any bonds which have become mutilated

or which have been destroyed or lost. Except as otherwise provided

by Section 19 of this act, bonds may be issued pursuant to the

provisions of the University Hospitals Authority Act without

obtaining the consent of any department, division, commission,

board, bureau, or agency of this state, and without any other

proceedings or the occurrence of any other conditions or things than

those proceedings, conditions, or things that are specifically

required by the University Hospitals Authority.

C. The Authority may, by resolution, provide for the issuance
itals Authority Act without

obtaining the consent of any department, division, commission,

board, bureau, or agency of this state, and without any other

proceedings or the occurrence of any other conditions or things than

those proceedings, conditions, or things that are specifically

required by the University Hospitals Authority.

C. The Authority may, by resolution, provide for the issuance

of refunding bonds then outstanding, including the payment of any

redemption premium, any interest accrued to the date of redemption

of such bonds, and for incurring additional indebtedness for its

lawful purposes. The issuance of such bonds shall be governed by

the provisions of the University Hospitals Authority Act.