Oklahoma bond council approves $613.68 million in issuance

By Aaron Hochman-Zimmerman

New York, March 26 - The Oklahoma Council of Bond Oversight approved $613.675 million of issuance expected within the coming three months, according to acting state bond council Tim Martin.

There was "quite a bit of discussion," but $21.075 million in tax-exempt, fixed-rate general revenue bonds were approved for the University of Oklahoma.

The council also approved $585 million of short-term taxable variable-rate notes for the Oklahoma Student Loan Authority and a $7.6 million lease purchase agreement for the Office of Juvenile Affairs.

The issuers are not required to issue the amount in full, but will likely try to price their full allowance in "one fell swoop," Martin said.

Also at the meeting state bond advisor James Joseph tendered his resignation and was replaced temporarily by Martin.

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