Oklahoma § 19-740 - Use of sinking fund - Warrants against estimated proceeds

§ 19-740. Use of sinking fund - Warrants against estimated proceeds

of tax levy.

The board of county commissioners, district judge and county

judge of any county in this state may use for the purpose of

erecting, remodeling or rebuilding a courthouse or jail, or both, at

the county seat, all or any portion of the sinking fund of the

county derived from penalties, interest and forfeitures accrued, or

to accrue, and in addition thereto, where a mill tax for courthouse

or jail purposes has been, or may be voted by a majority of the

qualified electors of said county covering a period of years, the

county commissioners, district judge and county judge of said county

may make an estimate of the amount that the said levy together with

the sinking fund, interest and penalties so derived will raise

during the entire period of time for which said mill levy has been

or may be voted, based on the average valuation of the property in

said county for the last past five (5) years and may contract for

and cause to be erected a courthouse and jail, or either in said

county, at the county seat thereof, and may draw warrants against

said estimate in payment therefor, which shall be a legal charge

against said county, payable out of the fund thus derived. Said

warrants to be issued in amount not to exceed One Thousand Dollars

($1,000.00) each, and when funds accumulate in the county treasury

to the credit of said fund sufficient to pay one or more of said

warrants the county treasurer shall give notice by publication in a

newspaper published in said county that the money is available to

pay said warrants, or warrant, giving the number and date of said

Oklahoma Statutes - Title 19. Counties and County Officers

warrant or warrants, and unless said warrant, or warrants, are

presented for payment within thirty (30) days from the date of said

publications, said warrants, or warrant, so advertised shall cease

to draw interest. Said contract for the building as aforesaid shall

be approved by the county commissioners, district judge and county

judge of said county. This act shall not be construed as affecting

or repealing any existing law and shall be cumulative in its

operation and effect.

Added by Laws 1923-24, c. 111, p. 133, § 1.