Section X-23a

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Section X-23a: Surplus accruing to General Revenue Fund - Payment of bonded indebtedness -Investments - Appropriation of surplus.

  Any surplus which has accrued or may hereafter accrue to the
General Revenue Fund of the State of Oklahoma during any fiscal
year shall be placed monthly in a sinking fund in the State
Treasury to be used solely for the purpose of paying the
principal and interest of the outstanding and unpaid bonded
indebtedness of the State of Oklahoma. The monies and securities
heretofore credited to the Surplus Accounts of the State Funding
Bond Funds of 1935, 1939, and 1941 also shall be placed in said
Sinking Fund.  The State Treasurer shall be the custodian of said
Sinking Fund and shall apply the monies and securities placed to
the credit of said fund to the payment of the principal and
interest of the state's bonded indebtedness.  The State Treasurer
with the approval of the Governor and Attorney General shall have
the authority to invest the monies in said sinking fund in bonds
or securities of the United States of America, and the State
Treasurer with the approval of the Governor and Attorney General
may sell said securities to provide funds to meet maturing State
bonds and coupons.  The provisions of this section shall be
self-executing.  When the monies credited to said sinking fund
together with the monies set aside to pay said bonded
indebtedness, pursuant to the statutes authorizing the issuance
of said bonds, are sufficient to pay all outstanding bonds and
coupons heretofore issued by the State of Oklahoma, it shall no
longer be necessary to credit surplus funds to the Sinking Fund
herein created.  The sufficiency of said monies to fully pay the
State's bonded indebtedness shall be determined by the Governor,
State Treasurer, and Attorney General.  After such determination
any surplus monies thereafter to the credit of the State General
Revenue Fund shall be subject to appropriation by the

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