Okla. Stat. tit. 70, § 70-2205: Deposit of proceeds from bond sales

The proceeds derived from the sale of the bonds herein

authorized shall be deposited by the Treasurer of the Board of

Education to the credit of the Board and kept in a separate fund and

used solely for the purpose for which the bonds are authorized. The

Board is authorized to make all contracts and execute all

instruments which in its discretion may be deemed necessary or

advisable to provide for the construction, furnishing, and equipment

of the building, and the Treasurer is hereby directed and authorized

to issue warrants against such funds for such amounts as he may from

time to time find to be due upon audited itemized estimates and

claims which bear the approval of the officials designated by the

Board for such purpose.