Okla. Stat. tit. 82, § 82-1085.24: Purchase of certificates by State Treasurer

A. The State Treasurer of the State of Oklahoma is hereby

authorized and required to purchase from the Water Conservation

Storage Commission at private sale not to exceed at any one time One

Million Five Hundred Thousand Dollars ($1,500,000.00) in said

investment certificates, or interim investment certificates, as an

investment of the public monies in his possession. It shall be the

responsibility of the State Treasurer to invest only that portion of

such public monies as it deems to be more than sufficient to meet

current expenditures payable from public monies. The State

Treasurer is authorized and required to buy, and the Commission is

authorized and required to sell to the State Treasurer at private

sale, as provided in this section, so many of the investment

certificates authorized by this act as may be safely purchased for

investment of public monies by the State Treasurer without

handicapping the State of Oklahoma in promptly meeting its

obligations. In event of such sale or sales, the Commission shall

determine and fix the rate of interest and investment certificates

so sold shall bear such rate of interest.

B. In the event any or all of the investment certificates are

sold to the State Treasurer under the provisions of subsection A of

this section and thereafter the uninvested cash on hand and in

solvent banks should fall short of demand orders on the State

Treasury, it shall be the duty of the State Treasurer to sell such

part or all of the investment certificates as are necessary to be

converted into cash to meet such demands. The State Treasurer may

sell such part or all of the said investment certificates as the

State Treasurer is so authorized to sell, at private sale, to the

Teachers' Retirement Fund or any other state fund, department or

agency which has available monies to purchase the same, and all such

state funds, departments and agencies are hereby authorized and

empowered to so purchase such investment certificates.