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§ 39-118. Duties of trustees in foreclosure actions

Oklahoma Statutes AnnotatedTitle 11. Cities and Towns

Oklahoma Statutes Annotated
Title 11. Cities and Towns (Refs & Annos)
Chapter 1. Municipal Code (Refs & Annos)
Municipal Departments and Services
Article XXXIX. Improvement Districts (Refs & Annos)
11 Okl.St.Ann. § 39-118
§ 39-118. Duties of trustees in foreclosure actions
In any action seeking the foreclosure of a lien against any tract or parcel of land assessed by a city for the construction of any improvement after bonds have been issued, the trustee of the fund from which the bonds are to be paid may:
1. Purchase the tract or parcel of land sold at the foreclosure sale; or
2. Bid, in lieu of cash, the full amount of the assessment and interest found by the court to be due and payable under the ordinance creating the lien and any cost taxed by the court in the foreclosure proceedings against the property ordered sold.

Credits

Laws 1978, c. 233, § 18, emerg. eff. April 25, 1978; Laws 1983, c. 170, § 27, eff. July 1, 1983.
11 Okl. St. Ann. § 39-118, OK ST T. 11 § 39-118
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.
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