Okla. Stat. tit. 70, § 70-3211: Revolving Loan Fund of the Oklahoma State Regents for

Higher Education.

(a) There is hereby created in the State Treasury a Revolving

Loan Fund to be designated "Revolving Loan Fund of the Oklahoma

State Regents for Higher Education." Such fund shall be a

continuing fund, and the State Regents may allocate on a loan basis

any of the monies therein to any of the state educational

institutions under their jurisdiction, for projects authorized by

the Board of Regents of the institution and approved by the State

Regents.

(b) Monies in such fund shall be disbursed by claims approved by

the President of the institution to which the monies were allocated.

The State Regents shall prescribe rules and regulations for the

safekeeping and proper expenditure, repayment procedures, and

reports covering the expenditure, of moneys used for projects

authorized.