2014 Oklahoma Statutes
Title 62. Public Finance
§62-120.1. Exchange, trade-in or separate sale authorized - Transfers to educational entities without compensation.

A. Each state department, institution, or agency which is empowered by law to purchase supplies and equipment, and which also is authorized by law to maintain a revolving fund and make expenditures therefrom for purchase of supplies and equipment is hereby authorized to dispose of outworn, outmoded, obsolescent, or obsolete equipment solely for the purpose of acquiring suitable equipment of comparable kind and purpose, by any of the following methods or combinations of methods:

1. By exchange;

2. By trade-in to cover part of the cost of equipment to be acquired by purchase; and

3. By separate cash sale in cases where it appears that a greater amount can be recovered than could be realized by exchange or trade-in; provided that nothing in this act shall apply to the Grand River Dam Authority.

B. The entities authorized to dispose of obsolete equipment pursuant to subsection A of this section are also authorized to dispose of obsolete or surplus equipment by transfer to a public school district or to entities within The Oklahoma State System of Higher Education without compensation.

Added by Laws 1949, p. 419, § 1. Amended by Laws 1997, c. 215, § 1, eff. Nov. 1, 1997; Laws 1999, c. 61, § 1, eff. Nov. 1, 1999.