Oklahoma § 63-1069 - Form and sale of bonds

§ 63-1069. Form and sale of bonds

Bonds of an authority shall be authorized by its resolution and

may be issued in one or more series and shall bear such date or

dates, mature at such time or times, bear interest at such rate or

rates, not exceeding six percent (6%) per annum, be in such

denomination or denominations, be in such form either coupon or

registered, carry such conversion or registration privileges, have

such rank or priority, be executed in such manner, be payable in

such medium of payment, at such place or places, and be subject to

such terms of redemption, with or without premium, as such

resolution or its trust indenture may provide.

The bonds must be sold at public sale at not less than par.

Bonds of the authority shall not be purchased by members of the

authority or its employees or members of their immediate families.

Oklahoma Statutes - Title 63. Public Health and Safety

In case any of the members or officers of an authority whose

signatures appear on any bonds or coupons shall cease to be such

members or officers before the delivery of such bonds, such

signatures shall, nevertheless, be valid and sufficient for all

purposes, the same as if such members or officers had remained in

office until such delivery. Any provision of any law to the

contrary notwithstanding, any bonds issued pursuant to this act

shall be fully negotiable.

In any suit, action or proceeding involving the validity or

enforceability of any bond of an authority or the security therefor,

any such bond reciting in substance that it has been issued by the

authority to aid in financing a project, as herein defined, shall be

conclusively deemed to have been issued for such purposes and such

project shall be conclusively deemed to have been planned, located

and carried out in accordance with the purposes and provisions of

this act.

Laws 1965, c. 251, § 19; Laws 1968, c. 254, § 1; Laws 1969, c. 341,

§ 2, emerg. eff. May 8, 1969.