§ 391. Refund of indebtedness authorized--Issue of new bonds
Oklahoma Statutes AnnotatedTitle 62. Public Finance
62 Okl.St.Ann. § 391
§ 391. Refund of indebtedness authorized--Issue of new bonds
Every county, every city or town, the board of education of every city, every township, and every school district, is hereby authorized and empowered to refund its indebtedness, including bonds, judgments and warrants, as hereinafter provided, upon such terms as can be agreed upon, and to issue new bonds with interest in payment for any sum so refunded; which bonds shall be sold at no less than par, and shall not be for a longer period then twenty-five (25) years, shall not exceed in amount the actual amount of outstanding indebtedness, inclusive of accrued interest and shall not draw a greater interest than the maximum rate provided by Section 498.1 of this title.
Credits
R.L.1910, § 362; Laws 1983, c. 170, § 46, eff. July 1, 1983.
62 Okl. St. Ann. § 391, OK ST T. 62 § 391
Current with emergency effective legislation through Chapter 106 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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