Okla. Stat. tit. 73, § 73-155
This is the official text of Okla. Stat. tit. 73, § 73-155, part of Oklahoma’s Stat. tit. 73, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 73,." Browse the sections below, each linked to its official government source.
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Sale of bonds to public - Bids - Deposit
Official statutory text
In the event said bonds, or some portion thereof, are not sold
to the State Treasurer or other state funds, departments and
agencies as authorized in Section 4 hereof, then the Authority is
authorized to advertise said bonds, or the unsold portion thereof,
for sale to other bidders and to sell said bonds, or the unsold
portion thereof, in the manner hereinafter provided. Notice of such
sale shall be published at least thirty (30) days prior to the date
fixed for such sale. Such notice shall be published for at least
two (2) consecutive weeks in a newspaper having general circulation
in the State of Oklahoma, and at least once in a financial
periodical or newspaper known to have general circulation among bond
dealers and bond purchasers. Such notice shall state the time and
place where and when the Authority will receive written bids for the
purchase of the bonds so offered for sale and shall also state that
the bonds will be sold to the bidder bidding the lowest interest
rate to the State of Oklahoma, stating also, however, that the
Authority may, in its discretion, reject all bids submitted and
readvertise the bonds for sale. Such notice may contain such other
conditions, information and details as the Authority deems
appropriate and desirable to secure understanding of the offer and
to assure maximum competition between bidders. Upon acceptance of
the low bid, the bonds shall be issued in accordance therewith and
shall be delivered to said purchaser upon payment of the purchase
price thereof, which shall be not less than par plus accrued
interest to date of delivery. Provided, however, no tender of the
bonds shall be valid until after the expiration of the period of
contestability provided for herein. All bidders shall be required
to submit with their bids such good faith deposit as may to the
Authority seem appropriate. Upon the acceptance of a bid, the
Authority shall return to all of the unsuccessful bidders the
deposits so made by them. All such deposits shall be made upon the
agreement that the deposit made by the successful bidder shall
become the property of the Authority, and shall be credited upon the
purchase price of the bonds so sold and with the further agreement
Oklahoma Statutes - Title 73. State Capital and Capitol Building Page 42
that if the purchaser shall fail for five (5) days after tender of
the bonds to pay the balance of the purchase price, said sale shall
be thereby annulled and the deposit shall in such event be retained
by the Authority and credited to the Oklahoma Capitol Improvement
Authority Fund.
to the State Treasurer or other state funds, departments and
agencies as authorized in Section 4 hereof, then the Authority is
authorized to advertise said bonds, or the unsold portion thereof,
for sale to other bidders and to sell said bonds, or the unsold
portion thereof, in the manner hereinafter provided. Notice of such
sale shall be published at least thirty (30) days prior to the date
fixed for such sale. Such notice shall be published for at least
two (2) consecutive weeks in a newspaper having general circulation
in the State of Oklahoma, and at least once in a financial
periodical or newspaper known to have general circulation among bond
dealers and bond purchasers. Such notice shall state the time and
place where and when the Authority will receive written bids for the
purchase of the bonds so offered for sale and shall also state that
the bonds will be sold to the bidder bidding the lowest interest
rate to the State of Oklahoma, stating also, however, that the
Authority may, in its discretion, reject all bids submitted and
readvertise the bonds for sale. Such notice may contain such other
conditions, information and details as the Authority deems
appropriate and desirable to secure understanding of the offer and
to assure maximum competition between bidders. Upon acceptance of
the low bid, the bonds shall be issued in accordance therewith and
shall be delivered to said purchaser upon payment of the purchase
price thereof, which shall be not less than par plus accrued
interest to date of delivery. Provided, however, no tender of the
bonds shall be valid until after the expiration of the period of
contestability provided for herein. All bidders shall be required
to submit with their bids such good faith deposit as may to the
Authority seem appropriate. Upon the acceptance of a bid, the
Authority shall return to all of the unsuccessful bidders the
deposits so made by them. All such deposits shall be made upon the
agreement that the deposit made by the successful bidder shall
become the property of the Authority, and shall be credited upon the
purchase price of the bonds so sold and with the further agreement
Oklahoma Statutes - Title 73. State Capital and Capitol Building Page 42
that if the purchaser shall fail for five (5) days after tender of
the bonds to pay the balance of the purchase price, said sale shall
be thereby annulled and the deposit shall in such event be retained
by the Authority and credited to the Oklahoma Capitol Improvement
Authority Fund.
Status: in_force · Read it on the official government site
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