Okla. Stat. tit. 70, § 70-4007
This is the official text of Okla. Stat. tit. 70, § 70-4007, part of Oklahoma’s Stat. tit. 70, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 70,." Browse the sections below, each linked to its official government source.
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Disposition of proceeds of operation of buildings
Official statutory text
Except as to revenues paid directly to a trustee under the
provisions of Section 1004(a) (5) hereof, all income and revenues
derived from the operation of the building shall be deposited as
collected in a fund in the State Treasury to be applied solely to
the payment of the principal of and interest on the bonds and, to
the extent so provided in the resolution authorizing the bonds, to
the payment of the cost of maintaining and operating the building
and the establishment of reserves for such purpose. As principal
and interest becomes due from time to time the State Treasurer
shall, not less than fifteen (15) days prior to the payment date,
transmit to the paying agent for the bonds, money from said fund in
an amount sufficient to pay the principal or interest so falling
due. Said fund and the money therein is hereby irrevocably pledged
to such purposes.
provisions of Section 1004(a) (5) hereof, all income and revenues
derived from the operation of the building shall be deposited as
collected in a fund in the State Treasury to be applied solely to
the payment of the principal of and interest on the bonds and, to
the extent so provided in the resolution authorizing the bonds, to
the payment of the cost of maintaining and operating the building
and the establishment of reserves for such purpose. As principal
and interest becomes due from time to time the State Treasurer
shall, not less than fifteen (15) days prior to the payment date,
transmit to the paying agent for the bonds, money from said fund in
an amount sufficient to pay the principal or interest so falling
due. Said fund and the money therein is hereby irrevocably pledged
to such purposes.
Status: in_force · Read it on the official government site
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