Okla. Stat. tit. 70, § 70-9011: Bond proceeds – Authorized expenditures – Final

authority.

A. Proceeds from bonds or other evidence of indebtedness issued

by the higher education funding district may be expended on such

assets as authorized by the provisions of the Internal Revenue Code

of 1986, as amended, or other provisions of federal or state law

based on whether the interest income paid to bondholders is exempt

from federal or state income tax.

B. Final maturity of any obligation issued by the higher

education funding district shall not exceed twenty-five (25) years.

C. Bonds or other evidence of indebtedness issued by a higher

education funding district may be sold using such procedures as may

be established by the board of regents of the institution for whose

benefit the higher education funding district has been created.