Okla. Stat. tit. 70, § 70-695.10: Refunding bonds

The Authority may, by resolution, provide for the issuance of

refunding bonds to refund any outstanding bonds issued under the

Oklahoma Student Loan Act, together with accrued interest thereon.

Provisions governing the issuance and sale of bonds under the

Oklahoma Student Loan Act govern the issuance and sale of refunding

bonds insofar as applicable. Refunding bonds may be exchanged for

the outstanding bonds or may be sold and the proceeds used to retire

the outstanding bonds.