Okla. Stat. tit. 11 § 39-114

Current through Laws 2024, c. 453.

Section 39-114 - Transfer of revenues to general fund

The governing body may transfer to the general fund of the city any money obtained from the levy of an assessment for a district if:

1. Bonds were issued to finance the improvement; and

2. The funds obtained by the bonds were spent for the improvement; and

3. The assessments were levied and collected for the payment of the bonds; and

4. Either the bondholders are barred by the statute of limitations or a court judgment or decree from collecting the indebtedness; or

5. The bonded indebtedness has been paid.

Okla. Stat. tit. 11, § 39-114

Laws 1978, HB 1053, c. 233, § 14, emerg. eff. 4/25/1978.