Oklahoma § 62-57.25 - Refunding bonds
Full text of Oklahoma Oklahoma Statutes § 62-57.25 — Refunding bonds, with citation guidance and answers to common questions.
§ 62-57.25. Refunding bonds
The Commission may issue bonds hereunder for the purpose of
refunding any obligations issued under the provisions of this act.
Such 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 refunded or deposited in
escrow for the retirement thereof. Nothing herein shall be
construed to authorize the refunding of any outstanding obligations
which are not either maturing, or callable for redemption under
their terms, or voluntarily surrendered by their holders for
cancellation, unless the Commission covenants that sufficient funds
to pay all remaining interest and principal payments of outstanding
obligations when due will be placed in escrow for such purpose in
the State Treasury at the time of delivery of and payment for the
new bonds issued hereunder. All bonds issued under this section
shall in all respects be authorized, issued and secured in the
manner provided for other bonds issued under this act, and shall
have all the attributes of such bonds. The Commission may provide
that any such refunding bonds shall have the same priority of
payment and be paid from the same revenues in the manner enjoyed by
the obligations refunded thereby.
Laws 1955, p. 343, § 11.
Frequently Asked Questions About Oklahoma § 62-57.25
What does Oklahoma Statutes § 62-57.25 cover?
Section 62-57.25 ("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 § 62-57.25?
A common citation format is "Oklahoma Statutes § 62-57.25" (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 § 62-57.25 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.