Okla. Stat. tit. 82, § 82-1112

A. Public construction contracts as such term is defined by the

Public Competitive Bidding Act of 1974 and executed by a port

authority created pursuant to Section 1102 of this title shall be

subject to the Public Competitive Bidding Act of 1974.

B. 1. Except as otherwise provided by subsection C of this

section, no sale of any real property or personal property having a

fair market value exceeding the public construction contract amount

specified by the Public Competitive Bidding Act of 1974 shall be

made by the port authority unless notice calling for bids for the

contract has been given by publication as provided by Section 1101

of this title.

2. No sale of real property or personal property shall be made

except to the highest responsible bidder.

3. In the case of any sale of land by the port authority

requiring competitive bids, specifications for the bids for the sale

shall be in such form and detail as is determined by the port

authority. Provided, however, if the port authority finds that an

immediate emergency exists, which findings shall be entered in the

Oklahoma Statutes - Title 82. Waters and Water Rights Page 288

minutes of the port authority, by reason of which an expenditure in

an amount exceeding the public construction contract amount

specified by the Public Competitive Bidding Act of 1974 is necessary

in order to avoid loss of life, substantial damage to property, or

damage to the public peace or safety, then such contracts may be

executed without public notice or competitive bids.

C. Competitive bids shall not be required for the sale of real

property or personal property by a port authority if:

1. The real property or personal property is to be sold for

industrial development purposes;

2. The real property or personal property was acquired by the

port authority for industrial development purposes; and

3. The contract for the sale of the real property or personal

property has been approved by the board of directors of such port

authority.

D. Every public construction contract or contract for the sale

of real property or personal property shall be executed in writing.

If the public construction contract involves work or construction,

the contract shall be accompanied by or shall refer to plans and

specifications for the work to be done, prepared for and approved by

the port authority, signed by the chairman of the port authority and

by the contractor, and shall be executed in triplicate.