Oklahoma § 62-412 - Issuance of bonds - Resolution or ordinance - Notice Publication of notice - Execution of bonds and interest coupons

§ 62-412. Issuance of bonds - Resolution or ordinance - Notice Publication of notice - Execution of bonds and interest coupons

Bonds issued under this act shall be authorized and the details

thereof fixed by resolution, or ordinance, as the case may be, of

the governing body of any county, city, town, township, board of

education, school district, or other municipal corporation issuing

such bonds. Said ordinance or resolution authorizing the issuance

of said bonds and fixing the details thereof shall not, however, be

passed or enacted until notice of the intention to fund said special

assessments, interest or penalties, shall have been given by one

Oklahoma Statutes - Title 62. Public Finance

publication in a newspaper having a general circulation in said

municipality, which said notice shall briefly state the kind of

special assessments, interest or penalties to be funded, the

aggregate amount of such special assessments, interest or penalties,

and the time and place of the meeting at which said funding will be

authorized. Such notice shall be published not less than ten (10)

nor more than thirty (30) days prior to the date set therein for the

authorization. The resolution or ordinance authorizing the issuance

of such bonds may be adopted at the time designated in such notice,

or on the date set in such notice, the governing body may adjourn to

a later date and such resolution or ordinance may be adopted at said

adjourned meeting without further notice. Bonds issued under this

act, by any county, shall be signed by the chairman of the board of

county commissioners, and attested by the county clerk, under the

seal of the county. Bonds issued by any city shall be signed by the

mayor, and attested by the city clerk, under the seal of the city.

Bonds issued by any towns shall be signed by the president of the

board of trustees, and attested by the town clerk, under the seal of

the town. Bonds issued by any township shall be signed by the

trustee, attested by the township clerk, and countersigned by the

township treasurer; provided, however, where any township has any

such outstanding special assessments, interest or penalties as may

be sought to be funded under this act, and where township form of

government has been abolished, such bonds may be authorized to be

issued by the board of county commissioners and in such cases such

bonds shall be signed by the chairman of the board of county

commissioners of the county in which such township is located, who

shall sign and act in the places of the trustee or the president of

the board of directors of such township, and in such cases, such

bonds shall be attested by the county clerk, and countersigned by

the county treasurer, acting and signing in the places of the clerk

or treasurer, respectively, of the board of directors of such

township. Bonds issued by the board of education of any city or

town shall be signed by the president, and attested by the clerk of

the board, under the seal of such board. Bonds issued by any school

district shall be signed by the director, attested by the clerk, and

countersigned by the treasurer of such school district board. Such

bonds and interest may be made payable at such place as may be

designated, and they shall contain a recital that they are issued

under this act. All such bonds shall be designated "SPECIAL

ASSESSMENT RETIREMENT BONDS OF 19____". Nothing in this section

shall be construed to prohibit the use of facsimile signatures or

seals as provided in the Registered Public Obligations Act of

Oklahoma.

Amended by Law 1983, c. 170, § 50, eff. July 1, 1983.