Oklahoma Council of Bond Oversight approves $252 million in new bonds

By Aaron Hochman-Zimmerman

New York, Dec. 18 - The Oklahoma Council of Bond Oversight approved four new issues totaling $252 million, according to Tim Martin of the council. They are expect to come to market early in 2009.

The council approved the sale of a $57 million and a $9 million tax-exempt, fixed-rate general revenue bond on behalf of the University of Oklahoma.

Additionally, the council approved issuance of $21 million and $175 million on behalf of the Oklahoma Student Loan Authority. The bonds can be either taxable or tax-exempt bonds.

A lawsuit is still pending against other bonds approved by the council on the grounds that placing more than one item on one piece of legislation is illegal.

The bonds approved during Thursday's meeting will not be affected by the suit, Martin said.

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