Oklahoma § 82-632 - Preliminary work, loans for
Full text of Oklahoma Oklahoma Statutes § 82-632 — Preliminary work, loans for, with citation guidance and answers to common questions.
§ 82-632. Preliminary work, loans for
In order to facilitate the preliminary work, which shall
include, but not be limited to, the preparation of the official
plan, the appraisals and the cost of administration incidental
thereto, the board, by resolution, may borrow money at a rate of
interest not exceeding six percent (6%), per annum, evidenced by
interim bonds or notes of the district payable not later than five
(5) years from the date thereof, which resolution shall provide for
the levy and collection of an assessment against all property
included in the district for the payment of the principal and
interest on maturity. Provided, the total amount of money so
borrowed with interest shall not exceed twenty-five cents ($0.25)
per acre of all lands embraced in the project, and any such interim
bonds or notes issued in excess thereof shall be void, but such
board shall not issue interim bonds or notes to borrow money as
provided above, until such board has been authorized by the court
having jurisdiction of such district, after a public hearing, to
issue such interim bonds or notes. Notice by publication, setting
forth the purpose, time and place of said hearing shall be given by
the Clerk of such court. Upon said hearing if it appears that it is
necessary to fulfill the purposes of such district to borrow money
as set forth in the application to the court, the court shall enter
an order to such effect. If said interim bonds or notes shall not
have been paid, or refunded by the issuance of bonds or notes for
completion of the project prior to the time for the levy and
collection of the assessment for payment of the principal and
interest thereof, such an assessment shall be levied and collected
to pay said principal and interest as hereinabove in this title
provided.
Added by Laws 1923-24, c. 139, p. 184, § 44. Amended by Laws 1959,
p. 378, § 7; Laws 1963, c. 271, § 12, emerg. eff. June 13, 1963.
Oklahoma Statutes - Title 82. Waters and Water Rights
Frequently Asked Questions About Oklahoma § 82-632
What does Oklahoma Statutes § 82-632 cover?
Section 82-632 ("Preliminary work, loans for") is part of the Oklahoma Statutes, the codified statutory law of Oklahoma. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Oklahoma § 82-632?
A common citation format is "Oklahoma Statutes § 82-632" (Oklahoma). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Oklahoma law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Oklahoma official source linked on this page or consult a licensed Oklahoma attorney.
How does Oklahoma § 82-632 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Oklahoma can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Oklahoma.