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§ 654. Election on issuance of revenue bonds

Oklahoma Statutes AnnotatedTitle 62. Public Finance

Oklahoma Statutes Annotated
Title 62. Public Finance (Refs & Annos)
Chapter 5. Local Industrial Development Act
62 Okl.St.Ann. § 654
§ 654. Election on issuance of revenue bonds
(a) Revenue bonds may be issued by a public trust as referred to in Section 2 above1 for the purposes set forth in Sections 2 and 3 hereof2 only with the approval of a majority of the qualified electors of the municipality or county voting at an election called for that purpose. An election on the question of issuing revenue bonds shall be held at the request of the trustees at such time as the governing body of the municipality or the board of county commissioners of a county shall designate by ordinance or resolution. Such ordinance or resolution shall specifically state the purpose for which the bonds are to be issued, the total amount of the issue, and the date upon which the election is to be held, which date shall not occur earlier than thirty (30) days after the passage of said ordinance or resolution.
(b) The election shall be held and conducted, the vote canvassed, and the results declared in the manner now or hereafter provided for municipal or county elections, so far as the same may be applicable, except as herein otherwise provided.
(c) Notice of the election shall be given by the mayor or board of county commissioners by advertisement in a newspaper of general circulation within the municipality or county once a week for four (4) consecutive weeks, with the last publication to be not less than ten (10) days prior to the date of said election.
(d) Only qualified electors of the municipality or county shall have a right to vote at said election.
(e) The results of the election shall be proclaimed by the mayor or chairman of the board of county commissioners, and shall be conclusive unless attacked in the courts within thirty (30) days after the date of such proclamation.

Credits

Laws 1961, p. 471, § 4, emerg. eff. Aug. 8, 1961.

Footnotes

Title 62, § 652.
Title 62, §§ 652, 653.
62 Okl. St. Ann. § 654, OK ST T. 62 § 654
Current with emergency effective legislation through Chapter 229 of the Second Regular Session of the 58th Legislature (2022). Some sections may be more current, see credits for details.
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