Okla. Stat. tit. 2, § 2-15-143: Lease to Public Trust Authority - Powers and duties of

Authority.

A. The board of county commissioners of any county qualifying,

pursuant to Section 15-142 of this title, may lease the grounds,

buildings, equipment and facilities owned and acquired by the county

for the purpose of conducting annual agricultural and industrial

fairs and expositions to a Public Trust Authority, created pursuant

to the laws of the State of Oklahoma as they relate to public

trusts, for the purposes of managing the grounds, buildings,

equipment and facilities as well as conducting annual agricultural

and industrial fairs and expositions.

B. The Public Trust Authority shall have all rights, powers,

authority, duties and responsibilities which are now or hereafter

provided by general law for public trusts in Oklahoma, pursuant to

Sections 176 through 180.4 of Title 60 of the Oklahoma Statutes, and

the Oklahoma Trust Act, which are not inconsistent with the

provisions of this article.

C. The Trust Authority, with the approval of the county

commission, may issue revenue bonds for not to exceed twenty-five-

year terms in accordance with trust laws of the State of Oklahoma.

D. The trust may sublease any facilities, provided any lease in

excess of two (2) years shall be approved by the board of county

commissioners.

E. Any capital expenditure in excess of One Hundred Thousand

Dollars ($100,000.00) on any project shall not be made without prior

approval of the board of county commissioners.