Okla. Stat. tit. 73 § 159.1

Current through Laws 2024, c. 453.

Section 159.1 - Payment of funds in advance of bond issuance - Deposit and use of funds

In the event a state agency has or receives appropriated or other funds to be applied to a project subject to a bond issuance, the agency may pay the funds to the Oklahoma Capitol Improvement Authority in advance of the bond issuance. The Authority shall deposit the funds in an interest-bearing account with the Office of the State Treasurer and use the funds and the interest on the funds to:

1. Pay other bond expenses of the issuance;

2. Pay for expenses related to the bond project;

3. Reduce the total bond debt service; or

4. Reduce the size of the required issuance.

Okla. Stat. tit. 73, § 159.1

Added by Laws 2008 , SB 1618, c. 379, §1, emerg. eff. 6/3/2008.