Okla. Stat. tit. 70, § 70-15-203: Restriction on guarantee of bonds

The Commissioners shall not approve bonds for guarantee if the

approval would result in the total amount of outstanding guaranteed

bonds to exceed an amount equal to twice the cost value or twice the

market value of the assets of the permanent school fund whichever is

lower, exclusive of real estate as calculated by the annual audit of

the Commissioners of the Land Office.