Okla. Stat. tit. 70, § 70-3206.6
This is the official text of Okla. Stat. tit. 70, § 70-3206.6, part of Oklahoma’s Stat. tit. 70, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 70,." Browse the sections below, each linked to its official government source.
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Master lease program - Acquisition of personal property
Official statutory text
- Refinance of lease obligations.
The Oklahoma State Regents for Higher Education may establish a
master lease program to finance the acquisition of items of personal
property, or refinance or restructure outstanding equipment lease
obligations as may be required by or useful to institutions and
entities within The Oklahoma State System of Higher Education in
order to achieve cost-saving efficiencies. The funds used by the
Regents for the purposes authorized by this section shall be
available for lease transactions having a minimum value of Fifty
Thousand Dollars ($50,000.00) and a maximum value of Ten Million
Dollars ($10,000,000.00). Such leases shall have a term that is no
more than the useful life of the personal property acquired by
institutions pursuant to the provisions of this section, and, in no
event, more than twenty (20) years. The amount of transactions
financed in a calendar year through the personal property master
lease program shall not exceed Fifty Million Dollars
($50,000,000.00).
The Oklahoma State Regents for Higher Education may establish a
master lease program to finance the acquisition of items of personal
property, or refinance or restructure outstanding equipment lease
obligations as may be required by or useful to institutions and
entities within The Oklahoma State System of Higher Education in
order to achieve cost-saving efficiencies. The funds used by the
Regents for the purposes authorized by this section shall be
available for lease transactions having a minimum value of Fifty
Thousand Dollars ($50,000.00) and a maximum value of Ten Million
Dollars ($10,000,000.00). Such leases shall have a term that is no
more than the useful life of the personal property acquired by
institutions pursuant to the provisions of this section, and, in no
event, more than twenty (20) years. The amount of transactions
financed in a calendar year through the personal property master
lease program shall not exceed Fifty Million Dollars
($50,000,000.00).
Status: in_force · Read it on the official government site
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