Okla. Stat. tit. 70, § 70-4015

- Revenue bonds.

A. The board of trustees of any community junior college

operating under the provisions of Sections 4401 through 4418 of

Title 70, Oklahoma Statutes, may construct a building for use as a

social and recreation center for the students and members of the

faculty of the college, including lounges, meeting rooms, game

rooms, bookstores, eating places and other facilities for the

comfort, convenience and welfare of students and faculty members,

and issue revenue bonds to pay the cost of constructing, equipping

and furnishing the building. The Board of Trustees shall adopt

rules and regulations for the use of the building and the operation

of the center and facilities thereof; and may do all things

necessary or convenient to make the center effective for the

purposes for which it is maintained or operated.

B. Issuance of the revenue bonds shall be in accordance with

procedures prescribed by the Attorney General. The bonds shall be

special obligations, payable solely from revenues designated by the

Board of Trustees, which may, subject to the approval of the

Oklahoma State Regents for Higher Education, include fees and

charges collected from students in attendance at the college, and

income derived from operations of facilities of the center.

Provided, such building shall not be constructed nor shall any

revenue bonds be issued unless the Oklahoma State Regents for Higher

Education shall have determined that the projected revenue will

satisfy the financial obligation to be incurred under the proposed

bond issue.