Any one of the institutions comprising The Oklahoma State System of Higher Education as defined in Section 1 of Article XIII-A of the Constitution of Oklahoma and any other institutions of Higher Education which have become coordinated with the Oklahoma State System of Higher Education under the provisions of Section 4 of said Article XIII-A of said Constitution may accept grants of airport property from the United States and hold and operate the same, and may accept, receive, receipt for, disburse, and expend federal monies granted by the United States in aid of airport development upon such terms and conditions as are prescribed by the United States and are consistent with state law, and consistent with the terms of the grants by which said properties are acquired or said federal monies are received from the United States, and any amendment to any grants or release of any restriction found in the grants; and such institutions operating or controlling any airport shall have exclusive management and control of such airport and are hereby permitted to authorize and regulate the use of such airports by aircraft not owned and operated by such institutions under the conditions and subject to the restrictions hereinafter set forth.

A state educational institution may make or amend such reasonable rules, regulations, and orders as it may deem necessary for the operation, government and use of any such airport under its control not inconsistent with this section, with the laws of this state or of the United States, or any rules, regulations or orders promulgated pursuant to either, or with the terms of any grant of airport property or money from the United States, or any amendment to any grants or release of any restriction in any grants. Such institution may fix and charge for such services and facilities for aircraft not owned and operated by it, either rented by it or under concession contract, as are customarily provided and deemed necessary at any public airport; provided that all income received from the services and facilities herein provided for shall be kept by such institution in a separate fund to be used solely for the operation, upkeep and maintenance of such institutional airport. A state educational institution airport may use, lease, rent, sell or otherwise dispose of any of the property acquired for any purpose not inconsistent with the terms of any grant or money from the United States or any amendment of any grants or release of restriction found in any grants.

Laws 1965, c. 396, § 1305. der