Okla. Stat. tit. 62, § 62-57.16: Building Bonds Commission as agency - Indebtedness -

Purposes and limitation.

The State of Oklahoma Building Bonds Commission, created by

Section 1 of House Bill No. 4 of the Extraordinary Session of the

Twenty-second (1949) Oklahoma Legislature (Chapter 4 of the Session

Laws of said session), acting for and on behalf of the State of

Oklahoma, shall be the agency by and through which the state of

Oklahoma may incur indebtedness to the extent of, but not to exceed

the sum of Fifteen Million Dollars ($15,000,000.00) as principal,

for the purpose of constructing new buildings and other capital

improvements, and for equipping, remodeling, modernizing, and

repairing any and all existing buildings and capital improvements,

at the constituent institutions of The Oklahoma State System of

Higher Education and other state institutions, pursuant to, and

under authority of, Section 33 of Article X of the Constitution of

the State of Oklahoma, and this act.