Oklahoma § 62-57.193 - Refunding bonds
Full text of Oklahoma Oklahoma Statutes § 62-57.193 — Refunding bonds, with citation guidance and answers to common questions.
§ 62-57.193. Refunding bonds
The Oklahoma Building Bonds Commission may issue bonds pursuant
to the provisions of this section for the purpose of refunding any
outstanding obligations issued by the Commission or the State of
Oklahoma Building Bonds Commission. The bonds may either be sold or
delivered in exchange for outstanding obligations. If sold, the
proceeds may be either applied to the payment of the obligations
being refunded or deposited in escrow for the retirement of the
obligations. No outstanding obligations may be refunded which are
not maturing, callable for redemption under their terms or
voluntarily surrendered by their holders for cancellation, unless
the Commission covenants that sufficient funds to meet all remaining
interest and principal payments of the outstanding obligations when
due will be placed in escrow for such payments in the State Treasury
at the time of delivery of and payment for the new bonds issued
under this section. All bonds authorized to be issued under this
section shall be secured in the same manner as provided for the
bonds being refunded, except where more than one issue is being
refunded. The Commission may provide that the refunding bonds have
the same priority of payment and be paid from the same revenues as
enjoyed by the obligations being refunded thereby. The Commission
may enter into contracts and engage in such other acts as the
Commission deems necessary to effect the offer and sale of its
refunding bonds.
Laws 1976, c. 294, § 1, emerg. eff. June 15, 1976; Laws 1992, c.
350, § 16.
Frequently Asked Questions About Oklahoma § 62-57.193
What does Oklahoma Statutes § 62-57.193 cover?
Section 62-57.193 ("Refunding bonds") 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 § 62-57.193?
A common citation format is "Oklahoma Statutes § 62-57.193" (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 § 62-57.193 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.