Oklahoma § 73-154 - Repealed by Laws 2002, c. 481, § 6

§ 73-154. Repealed by Laws 2002, c. 481, § 6

NOTE: This section was amended prior to repeal by Laws 2002, c. 50,

§ 4, eff. Nov. 1, 2002 to read as follows:

(a) The State Treasurer of the State of Oklahoma is hereby

authorized and required to purchase from the Authority at private

sale all or any part of said bonds, or interim bonds, as an

investment of the public monies in his possession. It shall be the

responsibility of the State Treasurer to invest only that portion of

such public monies as it deems to be more than sufficient to meet

current expenditures payable from public monies. The State

Treasurer is authorized and required to buy, and the Authority is

authorized and required to sell to the State Treasurer at private

sale, as provided in this section, so many of the bonds authorized

by this act as may be safely purchased for investment of public

monies by the State Treasurer without handicapping the State of

Oklahoma in promptly meeting its obligations. In event of such sale

or sales, the Authority shall determine and fix the rate of interest

the bonds so sold shall bear, such rate of interest not to exceed

the maximum hereinbefore authorized. All interest earned by such

bonds as are held by the State Treasurer pursuant to such investment

shall, as collected, be paid into the Oklahoma Capitol Improvement

Authority Fund.

(b) In the event any or all of the bonds are sold to the State

Treasurer under the provisions of subsection (a) hereof and

thereafter the uninvested cash on hand and in solvent banks should

fall short of demand orders on the State Treasury, it shall be the

duty of the State Treasury to sell such part or all of the bonds as

are necessary to be converted into cash to meet such demands. The

State Treasurer may sell such part or all of the said bonds as he is

so authorized to sell, at private sale, to CompSource Oklahoma, the

Teachers Retirement Fund, or any other state fund, department or

agency which has available monies to purchase the same, and all such

state funds, departments and agencies are hereby authorized and

empowered to so purchase such bonds.

(c) If such bonds or any of them cannot be sold to such other

state funds, departments and agencies, it shall be the duty of the

State Treasurer to publish, advertise and, on the date given in the

notice, sell at not less than par and accrued interest, to the

highest and best bidder for cash, only so many of the bonds as will

enable the state to meet such demand orders; provided, however, in

Oklahoma Statutes - Title 73. State Capital and Capitol Building

lieu of so selling such bonds at the market, the State Treasurer and

the Authority may agree to the refunding of part or all of such

bonds, in accordance with the method and procedure for refunding

provided in this act.

(d) The CompSource Oklahoma President and Chief Executive

Officer with the approval of the Board of Managers of CompSource

Oklahoma and the State Board of Trustees of the Teachers Retirement

Fund are also authorized to purchase all or any part of said bonds

at private sale as an investment of such funds. In event of such

sale or sales, the Authority shall determine and fix the rate of

interest not to exceed the maximum hereinbefore authorized.