Okla. Stat. tit. 69, § 69-4033: Use of allocated monies - Submission of proposed budget -

Audits - Elderly and handicapped services - Purchases.

A. Monies allocated from the Public Transit Revolving Fund by

the Oklahoma Department of Transportation may be used for local

share or matching funds for the purpose of federal capital or

operating grants. Prior to the allocation of monies from the Public

Transit Revolving Fund, each eligible entity desiring monies from

the Public Transit Revolving Fund, shall provide to the Department,

a proposed budget outlining the proposed use of the monies for the

next fiscal year. Any eligible entity not submitting a proposed

budget shall be deemed to waive any claim to monies from the Public

Transit Revolving Fund for the next fiscal year. All monies

distributed among the eligible entities shall be audited to ensure

compliance with applicable law and the latest available audited

financial statement shall be provided to the Department.

B. Any eligible entity receiving monies from the Public Transit

Revolving Fund shall expend a minimum of fifty percent (50%) of the

monies for services for the elderly and the handicapped.

C. Allocations of program funds from the Public Transit

Revolving Fund shall not be subject to the Central Purchasing Act,

Section 85.1 et seq. of Title 74 of the Oklahoma Statutes. However,

any equipment purchased with monies from the Public Transit

Revolving Fund shall be subject to the Central Purchasing Act.