Okla. Stat. tit. 64, § 64-1002: Administration of state school lands - Powers and duties

In order that the state school lands may be administered in a

manner to assure their preservation as well as the appreciation of

the trust estate and the maximum return from the use of state school

lands for the support and maintenance of the common schools of the

state, the Commissioners of the Land Office, as trustees of the

state school lands, are hereby authorized and empowered to:

1. Categorize the state school lands as agricultural or

commercial according to the use which the Commissioners of the Land

Office determine from time to time to be most beneficial to the

interest of the present and future beneficiaries of the state;

2. Sell, at public auction after appraisement, the surface

interest in any state school land categorized by the Commissioners

of the Land Office to be excess or when determined to be in the best

interest of the trust;

3. Institute projects to develop and improve those state school

lands which are categorized as commercial lands;

4. Acquire by exchange, purchase, gift or grant all real

property and to acquire by exchange, purchase, gift or grant all

personal property necessary for the purpose of utilizing trust lands

for the development of commercial and agricultural leases to

maximize trust income for present and future beneficiaries; and

5. Exchange any real property of the trust for other real

property of equal or greater value to maximize income for present

and future beneficiaries, in accordance with and under the safeguard

of trust requirements.