Okla. Stat. tit. 70, § 70-3206.6: Master lease program - Acquisition of personal property

- Refinance of lease obligations.

The Oklahoma State Regents for Higher Education may establish a

master lease program to finance the acquisition of items of personal

property, or refinance or restructure outstanding equipment lease

obligations as may be required by or useful to institutions and

entities within The Oklahoma State System of Higher Education in

order to achieve cost-saving efficiencies. The funds used by the

Regents for the purposes authorized by this section shall be

available for lease transactions having a minimum value of Fifty

Thousand Dollars ($50,000.00) and a maximum value of Ten Million

Dollars ($10,000,000.00). Such leases shall have a term that is no

more than the useful life of the personal property acquired by

institutions pursuant to the provisions of this section, and, in no

event, more than twenty (20) years. The amount of transactions

financed in a calendar year through the personal property master

lease program shall not exceed Fifty Million Dollars

($50,000,000.00).