Okla. Stat. tit. 20, § 20-14.1
This is the official text of Okla. Stat. tit. 20, § 20-14.1, part of Oklahoma’s Stat. tit. 20, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 20,." Browse the sections below, each linked to its official government source.
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Entities authorized to issue bonds – Application to the
Official statutory text
Supreme Court for approval.
Any department, institution, board, bureau, division,
commission, agency, trusteeship, or authority of state government
authorized to issue bonds, notes, or other evidences of indebtedness
may, upon advice of bond counsel or upon governing board approval,
file an application with the Supreme Court of Oklahoma for the
approval of any obligations to be issued by it. Exclusive original
jurisdiction shall be conferred upon the Supreme Court to hear and
Oklahoma Statutes - Title 20. Courts Page 14
determine each such application pursuant to rules and procedures
designated by the Court. The Court may give such applications
precedence over the other business of the Court and to consider and
pass upon the applications and any protests which may be filed
against the application as expeditiously as possible.
Notice of the hearing on each application shall be given by a
notice in a newspaper of general circulation in the state that on a
day named, the applicant will ask the Court to hear its application
and approve the obligations. Notice shall inform all persons
interested that they may file protests against the issuance of the
obligations and be present at the hearing and contest its legality.
The notice shall be published one time not less than ten (10) days
prior to the date named for the hearing and the hearing may be
adjourned from time to time in the discretion of the Court.
If the Court is satisfied that the obligations have been
properly authorized in accordance with the law and that when issued,
they will constitute valid obligations in accordance with their
terms, the Court shall render its written opinion approving the
obligations and shall fix the time within which a petition for
rehearing may be filed. The decision of the Court shall be a
judicial determination of the validity of the obligations, shall be
conclusive as to the applicant, its officers and agents, and
thereafter the obligations so approved and the revenues pledged to
their payment shall be incontestable in any court in this state.
Any department, institution, board, bureau, division,
commission, agency, trusteeship, or authority of state government
authorized to issue bonds, notes, or other evidences of indebtedness
may, upon advice of bond counsel or upon governing board approval,
file an application with the Supreme Court of Oklahoma for the
approval of any obligations to be issued by it. Exclusive original
jurisdiction shall be conferred upon the Supreme Court to hear and
Oklahoma Statutes - Title 20. Courts Page 14
determine each such application pursuant to rules and procedures
designated by the Court. The Court may give such applications
precedence over the other business of the Court and to consider and
pass upon the applications and any protests which may be filed
against the application as expeditiously as possible.
Notice of the hearing on each application shall be given by a
notice in a newspaper of general circulation in the state that on a
day named, the applicant will ask the Court to hear its application
and approve the obligations. Notice shall inform all persons
interested that they may file protests against the issuance of the
obligations and be present at the hearing and contest its legality.
The notice shall be published one time not less than ten (10) days
prior to the date named for the hearing and the hearing may be
adjourned from time to time in the discretion of the Court.
If the Court is satisfied that the obligations have been
properly authorized in accordance with the law and that when issued,
they will constitute valid obligations in accordance with their
terms, the Court shall render its written opinion approving the
obligations and shall fix the time within which a petition for
rehearing may be filed. The decision of the Court shall be a
judicial determination of the validity of the obligations, shall be
conclusive as to the applicant, its officers and agents, and
thereafter the obligations so approved and the revenues pledged to
their payment shall be incontestable in any court in this state.
Status: in_force · Read it on the official government site
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