§ 62-57.104. Serial coupon bonds - Maturities - Interest payment dates - Call and redemption.

The Series D Bonds shall be serial coupon bonds.  Said bonds and the interest thereon shall be payable at such place or places as may be designated by the State of Oklahoma Building Bonds Commission.  The Series D Bonds shall mature on July 15 in the years and amounts, respectively, as follows:

YearsAmounts

1972  $  200,000.00

1973  $  200,000.00

1974  $  200,000.00

1975  $  400,000.00

1976  $  400,000.00

1977  $  400,000.00

1978  $  700,000.00

1979  $  700,000.00

1980  $  700,000.00

1981  $  700,000.00

1982  $  700,000.00

1983  $  700,000.00

1984  $1,000,000.00

1985  $1,000,000.00

1986  $1,000,000.00

1987  $1,000,000.00

1988  $1,000,000.00

1989  $1,000,000.00

1990  $1,000,000.00

1991  $1,000,000.00

1992  $1,000,000.00

1993  $1,525,000.00

The Series D Bonds shall bear interest, payable semiannually on January 15 and July 15 of each year, may be in such denomination or denominations, may be secured by a reserve to assure prompt payment of the principal and interest, may be in such form either coupon or registered, may carry such registration or conversion privileges, may be executed in such manner, may be payable in such medium of payment at such place or places, as may be provided by resolution or resolutions to be adopted by the State of Oklahoma Building Bonds Commission; provided, that all such bonds maturing on and after ten (10) years from their dates may be subject to call and redemption, in inverse order of bond numbers, at par and accrued interest, with the detailed provisions for such calling and redemption thereof to be fixed by the Commission in the resolution or resolutions for the issuance of such bonds.  Until such time as the sinking fund shall be sufficient to retire all outstanding State of Oklahoma Institutional Building Bonds of 1965, including interest thereon, there shall be paid into the sinking fund during each fiscal year from the sources hereinabove pledged such amounts as may be necessary to pay the interest and principal payable during the next succeeding fiscal year, and an amount sufficient to satisfy the reserve requirements as fixed and provided by the State of Oklahoma Building Bonds Commission in its resolution or resolutions authorizing the issuance of said bonds.  All bonds issued pursuant to this act shall have all the qualities and incidents of negotiable paper, and neither said bonds nor the interest earned thereon shall be subject to taxation by the State of Oklahoma or any county, municipality or political subdivision thereof.

Laws 1968, c. 265, § 4, emerg. eff. April 29, 1968.