Okla. Stat. tit. 74, § 74-5063.12: Term of bonds - Direct or private placement sale -

Notice of sale - Bids and bidding.

The bonds shall have such terms and may be issued in accordance

with the applicable provisions of the Oklahoma Development Finance

Authority Act, Section 5062.1 et seq. of this title, except that the

bonds shall mature no later than twenty-five (25) years after the

date of such bonds and shall be sold in one or a combination of the

following methods:

1. By direct or private placement sale, provided bids are

solicited from a register of no less than five (5) institutions

maintained by the Authority, including entities of the State of

Oklahoma having the legal ability to invest in general obligations

of the State of Oklahoma. The Authority shall award the sale, if

any, to the bidder offering to purchase the bonds at a price which

results in the lowest net interest cost to the state as determined

by computing the total interest cost from date to maturity, and

deducting therefrom any premium bid and adding thereto the amount of

any discount bid; or

2. By public sale on sealed bids, after notice published by the

chairman of the board of directors of the Authority for at least one

insertion not less than ten (10) days before the date of sale in a

newspaper of general circulation in this state and in a financial

newspaper or journal published in the Borough of Manhattan, City and

State of New York. The Authority shall award the sale, if any, to

the bidder offering to purchase the bonds at a price which results

in the lowest net interest cost to the state as determined by

computing the total interest cost from date to maturity, and

deducting therefrom any premium bid and adding thereto the amount of

any discount bid. The Authority shall reserve the right to reject

all bids. The notice shall contain such other terms and provisions

as the Authority determines to be desirable.