Okla. Stat. tit. 74, § 74-5063.13
This is the official text of Okla. Stat. tit. 74, § 74-5063.13, part of Oklahoma’s Stat. tit. 74, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 74,." Browse the sections below, each linked to its official government source.
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Resolution of board of directors - Trust indentures
Official statutory text
A. All bonds issued hereunder shall be authorized by resolution
of the board of directors. Each such resolution shall contain such
terms, covenants and conditions applicable to the bonds as are
deemed desirable. All bonds issued under this act shall be on a
parity as to security. The resolution of the board may provide for
the execution and delivery by the Oklahoma Development Finance
Authority of a trust indenture or trust indentures, with a bank or
banks located within or without the state, containing any of the
terms, covenants and conditions referred to above, which trust
indenture or trust indentures shall be binding upon the state, and
its officers and officials, to the extent set forth in this act.
B. Any resolution or trust indenture adopted or executed under
this section shall provide that power is reserved to apply to the
payment of debt service on the bonds issued or secured thereunder
all or any part of the Authority's revenues, from whatever source
derived, and, to the extent of such revenues, to release from any
requirement of such resolution or trust indenture other revenues and
Oklahoma Statutes - Title 74. State Government Page 1148
resources of the state including without limitation, the general
revenue funds required to be appropriated pursuant to this act.
of the board of directors. Each such resolution shall contain such
terms, covenants and conditions applicable to the bonds as are
deemed desirable. All bonds issued under this act shall be on a
parity as to security. The resolution of the board may provide for
the execution and delivery by the Oklahoma Development Finance
Authority of a trust indenture or trust indentures, with a bank or
banks located within or without the state, containing any of the
terms, covenants and conditions referred to above, which trust
indenture or trust indentures shall be binding upon the state, and
its officers and officials, to the extent set forth in this act.
B. Any resolution or trust indenture adopted or executed under
this section shall provide that power is reserved to apply to the
payment of debt service on the bonds issued or secured thereunder
all or any part of the Authority's revenues, from whatever source
derived, and, to the extent of such revenues, to release from any
requirement of such resolution or trust indenture other revenues and
Oklahoma Statutes - Title 74. State Government Page 1148
resources of the state including without limitation, the general
revenue funds required to be appropriated pursuant to this act.
Status: reserved · Read it on the official government site
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