Oklahoma § 19-901.17 - Sale of bonds

§ 19-901.17. Sale of bonds

The board shall sell such bonds from time to time in such

quantities as may be necessary and most advantageous to raise the

money for the construction of the proposed work, the acquisition of

property and rights and otherwise to fully carry out the objects and

purposes of this act. Before making any sale of bonds the board

shall, at a meeting, by resolution, declare its intention to sell a

specified amount of the bonds and the day and hour and place of such

sale and shall cause such resolution to be entered in the minutes

and notice of the sale to be given by publication thereof at least

ten (10) days in some newspaper of said county if published in a

daily newspaper or two (2) weeks if published in a weekly newspaper,

or said notice may be published in two (2) issues of a daily

newspaper provided they are published a week apart. Said bonds may

be sold either at public auction for cash to the highest bidder or

upon sealed bids as determined by the board of directors. At the

time appointed, the board shall award the purchase of the bonds to

the highest responsible bidder, but shall reserve and always have

the right to reject any and all bids, but said board shall in no

event sell any of said bonds for less than par with accrued

interest.

Added by Laws 1949, p. 158, § 17.