2018 Oklahoma Statutes
Title 62. Public Finance
§62-57.155. Deposit of proceeds - Investment.

Notwithstanding the provisions of Section 57.133, Title 62 of the Oklahoma Statutes, to the contrary, the proceeds from the sale of such Series B Bonds shall be deposited in the State of Oklahoma Building Bonds of 1968 Sinking 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 each agency to which an appropriation therefrom is made by Senate Bill No. 656 of the Second Session of the Thirty-second 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 obligations 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 after June 30, 1972, shall be deposited by the State Treasurer in the State of Oklahoma Building Bonds of 1968 Sinking Fund. Any appropriations of such deposited interest enacted prior to June 30, 1972, for the agency for which the investment was made may be expended as provided therein. Any unappropriated amounts of such deposited interest credited on June 30, 1972, to the agency for which the investment was made, as formerly authorized by this section, shall be transferred to the General Revenue Fund.

Laws 1970, c. 317, § 5, emerg. eff. April 27, 1970; Laws 1972, c. 238, § 7, operative July 1, 1972.