The Oklahoma State Regents for Higher Education will ask lawmakers for a five-year program of $54 million in annual bond sales to reduce a $271 million backlog in the state’s endowed chair program.

If the Legislature approves the request, the Oklahoma Capitol Authority would issue the taxable bonds, with the first tranche in fiscal 2013. The proceeds would be matched with private donations, and the state would match up to 25% of gifts.

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