Oklahoma § 19-902.14 - Sale of bonds

§ 19-902.14. 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 the Oklahoma Rural Road Improvement District 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

Oklahoma Statutes - Title 19. Counties and County Officers

(2) weeks if published in a weekly newspaper, or said notice may be

published in two 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 1986, c. 93, § 14, eff. Nov. 1, 1986.