Okla. Stat. tit. 70, § 70-9-111: Use of fund

The State Board of Education through the Director of Finance is

hereby authorized to use the "Special Transportation Revolving Fund"

for the purchase of pupil-transportation equipment suitable for the

transportation of children to and from the common schools and to

make one or more units of such pupil-transportation equipment

available for use by any school district in the State of Oklahoma

which is either required or authorized by statute to provide free

transportation to and from school for children legally residing in

such district or legally transferred thereto and entitled to attend

school therein, but which school district does not have sufficient

funds available, and, because of then existing indebtedness, may not

legally issue its bonds for the purchase of other pupil-

transportation equipment. Provided, such equipment shall be

purchased from the list of approved equipment as provided for in

Section 9-109 and at a price not greater than the price so approved.

Provided, further, the school board or board of education of any

school district desiring to rent such equipment shall select from

the approved list the equipment they desire before the State Board

of Education shall be authorized to purchase transportation

equipment for rental to any district. Provided, further, the State

Board of Education shall not be authorized to act in behalf of any

school district in the purchase of any transportation equipment

except as provided for in this act.