Oklahoma § 82-1123 - Bonds issued pursuant to loan or purchase agreement with

§ 82-1123. Bonds issued pursuant to loan or purchase agreement with

United States Government.

In the event any issue or series of bonds is issued under

authority of this act pursuant to a loan agreement or bond purchase

agreement with any agency of the United States Government, then and

in that event, notwithstanding any other provision of law, the board

of directors of the port authority may in any resolution authorizing

bonds hereunder provide for the initial issuance of one or more

bonds (in this section called "bond") aggregating the amount of the

entire issue; and may make such provision for installment payments

of the principal amount of any such bond as it may consider

desirable; and may provide for the making of any such bond payable

to bearer or otherwise, registrable as to principal or as to both

principal and interest, and where interest accruing thereon is not

represented by interest coupons, for the endorsing of payments of

interest on such bond. The board of directors of the port authority

may further make provision in any such resolution for the manner and

circumstances under which any such bond may in the future, at the

request of the holder thereof, be converted into bonds of smaller

denominations, which bonds of smaller denominations may in turn be

either coupon bonds or bonds registrable as to principal or

principal and interest.

Laws 1963, c. 314, § 3, emerg. eff. June 19, 1963.