The Oklahoma Department of Commerce shall negotiate contracts for all expenditures by other entities in amounts over Two Thousand Five Hundred Dollars ($2,500.00) which have been appropriated to the Department for the use of such entities. The Director of the Department may require a formal contract for such expenditures of Two Thousand Five Hundred Dollars ($2,500.00) or less.
Okla. Stat. tit. 74, § 5025