§ 39-115. Bonds
Oklahoma Statutes AnnotatedTitle 11. Cities and Towns
11 Okl.St.Ann. § 39-115
§ 39-115. Bonds
A. To pay all or any part of the cost of the improvement, the governing body may issue, in the name of the city or a public trust entity acting on behalf of the city, bonds in one or more series and in amounts not exceeding the total cost of the improvement financed by each series, including costs of issuance, capitalized interest, funding of reserves, premiums for reserve surety bonds, and obtaining bond insurance, letters of credit or other credit enhancement or liquidity instruments in connection with each series. If the bonds recite that:
such recital shall be conclusive evidence of the facts recited.
C. Payment of the bonds issued for a storm sewer, lighting, street, alley, curb, gutter or sidewalk improvement may be supplemented from gasoline tax money remitted by the State of Oklahoma on or before a date not more than twelve (12) months after the last deferred installment of an assessment is due from the owner of a tract or parcel of land so assessed. Payment of the bonds issued for a water, sewer, gas, electric or other improvement may be supplemented from the funds received by the water, sewer, gas, electric or other facility on or before a date not more than twelve (12) months after the last deferred installment of an assessment is due from the owner of a tract or parcel of land so assessed.
G. After the passage of thirty (30) days from the publication of the ordinance or resolution authorizing the issuance of district bonds, any action attacking the validity of any proceedings had or taken by the governing body of the city preliminary to and in the authorization and issuance of the bonds described in the notice is perpetually barred.
Laws 1978, c. 233, § 15, emerg. eff. April 25, 1978; Laws 1983, c. 170, § 24, eff. July 1, 1983; Laws 2007, c. 362, § 11, eff. Nov. 1, 2007.
11 Okl. St. Ann. § 39-115, OK ST T. 11 § 39-115
Current with legislation of the Second Regular Session of the 58th Legislature (2022) effective through October 1, 2022. Some sections may be more current, see credits for details.
|End of Document|