Oklahoma § 82-1122 - Terms, maturities, form, etc. of bonds

§ 82-1122. Terms, maturities, form, etc. of bonds

Bonds authorized by this act may be issued in one or more

series, may bear such date or dates, may mature at such time or

times not exceeding forty (40) years from their date, may be in such

denominations and in such form, either coupon or registered, may

carry such registration and conversion privileges, may be executed

in such manner, may be payable in such medium of payment at such

place or places, may be subject to such terms of redemption with or

without premium, and may bear such rate of interest, not exceeding

Oklahoma Statutes - Title 82. Waters and Water Rights

five percent (5%) per annum, as may be provided by official

resolution of the board of directors of such port authority.

Such bonds may be sold in such manner and at such price or

prices, not less than par plus accrued interest to date of delivery,

as provided in Section 13 of this act, but interest cost to maturity

for bonds issued hereunder shall not exceed five percent (5%) per

annum, computed on the basis of average maturities according to

standard tables of bond values.

Laws 1963, c. 314, § 2, emerg. eff. June 19, 1963.