Okla. Stat. tit. 63, § 63-3240.6

A. The Community Hospitals Authority shall have the power and

duty to:

1. Adopt bylaws and promulgate rules for the regulation of its

affairs and the conduct of its business;

2. Adopt an official seal;

3. Maintain an office in one of the participating hospitals for

the Community Hospitals Authority at no cost to the Authority;

4. Sue and be sued;

5. Make and enter into all contracts necessary or incidental to

the performance of its duties and the execution of its powers

pursuant to the Community Hospitals Authority Act;

6. Purchase or lease equipment, furniture, materials and

supplies, and incur such other expenses as may be necessary to

discharge its duties and responsibilities or to make any of its

powers effective;

7. Accept any and all grants from persons and from the United

States of America, or from any corporation or agency created or

designed by the United States of America, and, in connection with

any such grant, to enter into such agreements as the United States

of America or such corporation or agency may require;

Oklahoma Statutes - Title 63. Public Health and Safety Page 1542

8. Accept grants and gifts from private individuals and

organizations;

9. Provide for complete financial audits on all accounts of the

Community Hospitals Authority and to authorize periodic audits by an

independent external auditing agency. Such audits shall be

performed annually in a format approved by the State Auditor and

Inspector, and all such audits shall be submitted to the State

Auditor and Inspector for review. Such audits shall be made in

accordance with generally accepted auditing standards and government

auditing standards. Financial statements shall be prepared in

accordance with generally accepted accounting principles. In

addition to the audits, the State Auditor and Inspector, whenever

the State Auditor deems it appropriate, and at least once each five

(5) years, or upon receipt of a request to do so from the Governor,

the Attorney General, the President Pro Tempore of the Senate, the

Speaker of the House of Representatives or the Authority shall

conduct a special audit of the Authority;

10. Engage in long-term planning for the operation and

management of the Community Hospitals Authority;

11. Establish petty cash funds and provide for appropriate

accounting procedures and controls; and

12. Do all other things necessary and proper to implement the

provisions of the Community Hospitals Authority Act.

B. The Community Hospitals Authority shall be subject to the

Oklahoma Budget Law of 1947.

C. The Authority shall prepare monthly a "budget vs. actual"

report which shows by budget activity the monthly and year-to-date

revenues and expenditures compared to budgeted revenues and

expenditures. Such report shall be submitted to the Office of

Management and Enterprise Services and to the directors of the

Fiscal Divisions of the State Senate and the Oklahoma House of

Representatives.

D. The Authority shall be subject to the professional risk

management program provided for in Section 85.58A of Title 74 of the

Oklahoma Statutes.

E. The Authority shall be and is prohibited from issuing bonds

or other evidences of indebtedness.

F. The Authority shall be and is prohibited from acquiring any

real property.