2014 Oklahoma Statutes
Title 62. Public Finance
§62-57.175. Deposit of proceeds - Investment.

Notwithstanding the provisions of Section 57.133, Title 62, Oklahoma Statutes, to the contrary, the proceeds from the sale of such Series D Bonds shall be deposited in the State of Oklahoma Building Bonds of 1968 Fund, where the proceeds shall remain subject to disposition as provided for by the Legislature of Oklahoma, provided that it shall be the duty of the agency to which an appropriation therefrom is made by Senate Bill No. 374 of the lst Session of the 34th Oklahoma Legislature to advise in writing the State Treasurer of the dates and amounts when each such appropriated sum or portion thereof will be required by such agency to satisfy its program for the expenditure thereof, such written advice to be delivered by each such agency to the State Treasurer within ten (10) days of the sale of such bonds, and it shall be the duty of the State Treasurer to invest the proceeds from the sale of such bonds in direct obligation of the United States of America or in certificates of deposit from banks in Oklahoma acceptable as depositories by the State Treasurer when such certificates of deposit are secured by acceptable collateral and yield as much or more than direct obligations of the United States of America, maturing at such times and in such amounts as to enable the State of Oklahoma to issue warrants in the amounts and at the times indicated by the said agencies in their said written advices to the State Treasurer, and the income from such investments shall be deposited by the State Treasurer in the State of Oklahoma Building Bonds of 1968 Sinking Fund and shall be used to pay the interest on such Series D Bonds.

Laws 1973, c. 207, § 5, emerg. eff. May 18, 1973.