Oklahoma § 2-4021 - Authority to lease real property — Contingencies —

§ 2-4021. Authority to lease real property — Contingencies —

Transfer of title to Trust.

A. Contingent upon the creation of the Oklahoma State

University Veterinary Medical Trust as provided in Section 20 of

this act, the Oklahoma State University Veterinary Medicine

Authority is hereby authorized to lease, for a term of not more than

fifty (50) years, renewable at the option of the Authority, all real

property owned by the Authority and any other sites under the

control of the Authority to the Oklahoma State University Veterinary

Oklahoma Statutes - Title 2. Agriculture

Medical Trust. Any lease agreement made pursuant to this section

shall be contingent upon:

1. Prior review by the Attorney General of any contractual

agreement between the Oklahoma State University Veterinary Medical

Trust and any entity authorized to transact business in the State of

Oklahoma regarding the lease and operations. The Attorney General

shall disapprove the agreement if it is determined that provisions

of the agreement are not consistent with state law; and

2. The execution of an operating and lease agreement between

the Oklahoma State University Veterinary Medical Trust and any

entity authorized to transact business in the State of Oklahoma.

B. Concurrent with the execution of a lease of real property

from the Oklahoma State University Veterinary Medicine Authority to

the Oklahoma State University Veterinary Medical Trust as provided

in subsection A of this section, the Authority is authorized to

transfer title to and possession of all tangible and intangible

personal property under its control to the Trust. In any

contractual agreement regarding the lease and operations of an

animal hospital or hospitals between the Oklahoma State University

Veterinary Medical Trust and any entity authorized to transact

business in the State of Oklahoma, the Trust is authorized to sell

or otherwise convey to such entity all tangible and intangible

personal property the Trust may receive from the Oklahoma State

University Veterinary Medicine Authority. Any contract or other

agreement which purports to exercise the powers authorized by this

subsection is subject to review by the Contingency Review Board, as

specified in Section 21 of this act.

C. If a contracting entity fails to take possession of the

leased premises, or abandons or surrenders possession of the leased

premises other than to a state agency, at any time during the term

of the lease between the Oklahoma State University Veterinary

Medical Trust and the contracting entity, the interest in the real

property leased to the Oklahoma State University Veterinary Medical

Trust by the Oklahoma State University Veterinary Medicine Authority

shall revert to and be the sole and exclusive property of the

Oklahoma State University Veterinary Medicine Authority.

D. Contingent upon the execution of an agreement between the

Oklahoma State University Veterinary Medical Trust and any entity

authorized to transact business in the State of Oklahoma, as

specified in subsection A of this section, the Oklahoma State

University Veterinary Medicine Authority is authorized to enter into

an agreement for such entity to provide animal patient care services

and perform other related duties imposed upon the Oklahoma State

University Veterinary Medicine Authority by law. Such an agreement

between the Oklahoma State University Veterinary Medicine Authority

and such entity is exempt from the requirements of the Oklahoma

Central Purchasing Act and any rules adopted by the Oklahoma State

Oklahoma Statutes - Title 2. Agriculture

University Veterinary Medicine Authority pursuant to the

Administrative Procedures Act. The governing committee created by

the agreement and the Oklahoma State University Veterinary Medical

Trust shall be subject to the Open Meeting Act and the Oklahoma Open

Records Act to the same extent and with the same exceptions as

provided for the Oklahoma State University Veterinary Medicine

Authority in Section 5 of this act and shall be exempt from the

Oklahoma Central Purchasing Act.

Added by Laws 2023, c. 297, § 21, eff. July 1, 2023.