Okla. Stat. tit. 70, § 70-9-112: Lease of equipment

Any such eligible school district and the State Board of

Education may enter into a lease contract, in writing, for the use

by such school district of one or more of such pupil-transportation

equipment units during the then current fiscal year, at the annual

rental value of such unit or units determined in the manner provided

for herein, but which contract may be entered into only against a

then current item of appropriation for "Transportation Operation."

Any school district which lawfully leases one or more of such pupil-

transportation equipment units from the State Board of Education

during any fiscal year shall be eligible to enter into a like

contract for the same unit or units during and for the ensuing

fiscal year, and shall also be eligible to purchase the same such

units, as provided for herein, even though such district then has

sufficient funds available or may then legally issue its bonds for

the purchase of other pupil-transportation equipment.