Okla. Stat. tit. 73, § 73-153

bonds.

(a) The Authority is hereby authorized to acquire land for and

to erect, equip, operate and maintain a building or buildings for

the use of state and/or federal agencies and departments at any

place or location within the State of Oklahoma, the place of

erection to be selected by the Authority. Provided, however, that

the place of erection to be selected by the Authority within the

Capitol Improvement and Zoning District as defined by law and

approved by the Capitol Improvement and Zoning Commission shall be

in compliance with statutory designations as may be provided in this

article. Provided further that in fulfilling the purpose of this

act in acquiring land for the erection, equipping, operation and

maintenance of any facilities, building or buildings at a location

other than within the Capitol Improvement and Zoning District the

Authority is hereby specifically empowered to:

(1) For the purpose of paying the costs thereof the Authority is

hereby authorized to borrow money on the credit of the income and

revenues to be derived from the operation of said building and, in

anticipation of the collection of such income and revenues, to issue

negotiable bonds as may, in the opinion of the Authority, be

necessary for such purposes, and to provide for the payment of such

bonds and the rights of the holders thereof, as hereinafter

provided. Said bonds may be issued in one or more series, may be

sold in such manner and at such price or prices, may bear such date

or dates, may mature at such time or times, not to exceed thirty

(30) years from their date, may be in such denomination or

denominations, may be in such form either coupon or registered, may

Oklahoma Statutes - Title 73. State Capital and Capitol Building Page 36

carry such registration or conversion privileges, may be executed in

such manner, may be payable in such medium of payments, at such

place or places, may be subject to such terms of redemption, with or

without premium, and may bear such rate or rates of interest not in

excess of seven and one-half percent (7 1/2%) per annum, and shall

be subject to such call for redemption as may be provided by

resolution or resolutions to be adopted by the Authority. Such

bonds shall have all of the qualities and incidents of negotiable

paper; and the bonds and the interest earned on said bonds shall not

be subject to taxation by the State of Oklahoma, or by any county,

municipality or political subdivision therein.

(2) The Authority may issue bonds hereunder for the purpose of

refunding any obligation of the Authority payable from the revenues

of said building, or may authorize and deliver a single issue of

bonds hereunder for the purpose in part of refunding obligations of

the Authority payable from the revenues derived from said building

and in part for the making, equipping and furnishing of additions,

improvements and extensions thereto or for an additional building or

buildings. Where bonds are issued under this paragraph solely for

refunding purposes, such bonds may either be sold as above provided

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. Nothing

herein contained shall be construed to authorize the refunding of

any outstanding obligations which are not either maturing, callable

for redemption under their terms, or voluntarily surrendered by

their holders for cancellation, unless the Authority covenants that

sufficient funds to pay all remaining interest and principal

payments of the outstanding obligations when due will be placed in

escrow for such purpose at the place or places where said bonds are

payable. All bonds issued under this paragraph 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
nants that

sufficient funds to pay all remaining interest and principal

payments of the outstanding obligations when due will be placed in

escrow for such purpose at the place or places where said bonds are

payable. All bonds issued under this paragraph 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 Authority may provide any such

refunding bonds shall have the same priority of lien on the revenues

pledged for their payment as was enjoyed by the obligations refunded

thereby.

(3) The bonds issued hereunder shall not be an indebtedness of

the State of Oklahoma or of the Authority herein, but shall be

special obligations payable solely from the rents and revenues to be

derived from the operation of the building, and the Authority is

authorized and directed to pledge all or any part of such revenues

to the payment of principal and interest on the bonds, the operation

and maintenance of the building, and to create a reserve for such

purposes.

(4) The State Treasurer of the State of Oklahoma is hereby

authorized to purchase from the Authority at private sale all or any

Oklahoma Statutes - Title 73. State Capital and Capitol Building Page 37

part of said bonds, or interim bonds, as an investment of the public

monies in his possession. It shall be the responsibility of the

State Treasurer to invest only that portion of such public monies as

it deems to be more than sufficient to meet current expenditures

payable from public monies. The State Treasurer is authorized to

buy and the Authority is authorized and required to sell to the

State Treasurer at private sale, as provided in this section, so

many of the bonds authorized by this act as may be safely purchased

for investment of public monies by the State Treasurer without

handicapping the State of Oklahoma in promptly meeting its

obligations. In the event of such sale or sales, the Authority

shall determine and fix the rate of interest the bonds so sold shall

bear.

(5) In the event any or all of the bonds are sold to the State

Treasurer under the provisions of subparagraph (4) hereof and

thereafter the uninvested cash on hand and in solvent banks falls

short of demand orders on the State Treasury, it shall be the duty

of the State Treasurer to sell such part or all of the bonds as are

necessary to be converted into cash to meet such demands.

(b) For the purpose of paying the costs thereof the Authority is

hereby authorized to borrow money on the credit of the income and

revenues to be derived from the operation of said building and, in

anticipation of the collection of such income and revenues, to issue

negotiable bonds not to exceed the sum of Ten Million Dollars

($10,000,000.00) as may, in the opinion of the Authority, be

necessary for such purposes, and is authorized to provide for the

payment of such bonds and the rights of the holders thereof, as

hereinafter provided. Said bonds may be issued in one or more

series, may be sold in such manner and at such price or prices, may

bear such date or dates, may mature at such time or times, not to

exceed thirty (30) years from their date, may be in such

denomination or denominations, may be in such form either coupon or

registered, may carry such registration or conversion privileges,

may be executed in such manner, may be payable in such medium of

payments, at such place or places, may be subject to such terms of

redemption, with or without premium, and may bear such rate or rates

of interest, not exceeding four percent (4%) per annum, as may be

provided by resolution or resolutions to be adopted by the

Authority. Such bonds shall have all of the qualities and incidents

of negotiable paper, and shall not be subject to taxation by the

State of Oklahoma, or by any county, municipality or political
s of

redemption, with or without premium, and may bear such rate or rates

of interest, not exceeding four percent (4%) per annum, as may be

provided by resolution or resolutions to be adopted by the

Authority. Such bonds shall have all of the qualities and incidents

of negotiable paper, and shall not be subject to taxation by the

State of Oklahoma, or by any county, municipality or political

subdivision therein. All bonds maturing after ten (10) years from

their dates shall be subject to call and redemption, in inverse

order of maturity and bond numbers, at par and accrued interest, the

detailed provisions for such call and redemption to be fixed by the

Authority in the resolution or resolutions authorizing the issuance

of said bonds.

Oklahoma Statutes - Title 73. State Capital and Capitol Building Page 38

(c) The Authority may issue bonds hereunder for the purpose of

refunding any obligation of the Authority payable from the revenues

of said building, or may authorize and deliver a single issue of

bonds hereunder for the purpose in part of refunding obligations of

the Authority payable from the revenues derived from said building

and in part for the making, equipping and furnishing of additions,

improvements and extensions thereto or for an additional building or

buildings. Where bonds are issued under this paragraph solely for

refunding purposes, such bonds may either be sold as above provided

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. Nothing

herein contained shall be construed to authorize the refunding of

any outstanding obligations which are not either maturing, callable

for redemption under their terms, or voluntarily surrendered by

their holders for cancellation, unless the Authority covenants that

sufficient funds to pay all remaining interest and principal

payments of the outstanding obligations when due will be placed in

escrow for such purpose at the place or places where said bonds are

payable. All bonds issued under this paragraph 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 Authority may provide any such

refunding bonds shall have the same priority of lien on the revenues

pledged for their payment as was enjoyed by the obligations refunded

thereby.

(d) The bonds issued hereunder shall not be an indebtedness of

the State of Oklahoma or of the Authority herein, but shall be

special obligations payable solely from the rents and revenues to be

derived from the operation of the building, and the Authority is

authorized and directed to pledge all or any part of such revenues

to the payment of principal and interest on the bonds, the operation

and maintenance of the building, and to create a reserve for such

purposes.