Okla. Stat. tit. 73, § 73-184: Equipment leasing and finance program

The Oklahoma Capitol Improvement Authority, in cooperation with

the State Treasurer, is hereby authorized to create and administer a

state agency equipment leasing and finance program. The Authority

may issue notes or other obligations, the proceeds of which may be

used to acquire equipment required by state agencies. The Authority

may lease the equipment to state agencies and pledge the revenues

from the leases to secure the notes or obligations. The notes or

obligations shall not be debts of the State of Oklahoma but shall be

payable solely from the revenue derived from the leases. Provided,

the Authority is further authorized to notify the Office of

Management and Enterprise Services of any default by an agency

leasing equipment under the program. If the Office of Management

and Enterprise Services determines that the defaulting agency has

funds lawfully available to pay the defaulted lease payment, the

Office of Management and Enterprise Services is authorized and

directed to generate the payment to the Authority and reduce the

spending authority of the defaulting agency by a corresponding

amount. The State Treasurer is authorized to purchase the notes or

obligations from the Authority as an investment at rates comparable

with other state investments. The Attorney General shall review and

approve all documentation necessary to carry out the program. The

Authority may authorize a total maximum authorized amount of notes

and obligations to be used for the program on a fiscal year basis,

and it shall not be necessary to adopt a resolution for each

individual note or obligation secured by a state agency lease. Not

more than Five Million Dollars ($5,000,000.00) of such notes or

obligations for this purpose may be issued in any single fiscal

year.