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§ 495. Legislative intent as to bonds issued to develop industry

Oklahoma Statutes AnnotatedTitle 62. Public Finance

Oklahoma Statutes Annotated
Title 62. Public Finance (Refs & Annos)
Chapter 2. Subdivisions of State
Industrial Development
62 Okl.St.Ann. § 495
§ 495. Legislative intent as to bonds issued to develop industry
The Legislature expressly states that its intention when submitting to a popular vote the proposed amendment to Article X, Section 35, Oklahoma Constitution, in Senate Joint Resolution No. 12 of the Twenty-eighth Legislature, and its interpretation thereof as to making a tax levy not to exceed five (5) mills on the dollar on the bonds issued thereunder to secure and develop industry in the event the net taxable valuation of the counties or municipalities declines subsequent to the issuance of such bonds. This interpretation will assure the investing public that principal and interest of such bonds will be paid as they come due, and will aid the marketability of such bonds.

Credits

Laws 1967, c. 64, § 1, emerg. eff. April 17, 1967.
62 Okl. St. Ann. § 495, OK ST T. 62 § 495
Current with emergency effective legislation through Chapter 257 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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