Okla. Stat. tit. 3, § 3-538
This is the official text of Okla. Stat. tit. 3, § 3-538, part of Oklahoma’s Stat. tit. 3, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 3,." Browse the sections below, each linked to its official government source.
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Application to Supreme Court for approval of bonds —
Official statutory text
Jurisdiction — Notice of hearing — Protest — Determination of
validity.
The Oklahoma Space Industry Development Authority is authorized
in its discretion to file an application with the Supreme Court for
the approval of any bonds to be issued hereunder, and exclusive
original jurisdiction is hereby conferred upon the Supreme Court to
hear and determine each such application. It shall be the duty of
the Court to 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 thereto as speedily as possible.
Notice of the hearing on each application shall be given by a notice
Oklahoma Statutes - Title 3. Aircraft and Airports Page 150
published in a newspaper of general circulation in this state that
on a day named, the Authority will ask the Court to hear its
application and approve the bonds. Such notice shall inform all
persons interested that they may file protests against the issuance
of the bonds and be present at the hearing and contest the legality
thereof. Such 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 shall be satisfied that the bonds have been properly
authorized in accordance with the Oklahoma Space Industry
Development Act and that when issued, they will constitute valid
obligations in accordance with their terms, the Court shall render
its written opinion approving the bonds 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
bonds, shall be conclusive as to the Authority, its officers and
agents, and thereafter the bonds so approved and the revenues
pledged to their payment shall be incontestable in any court in this
state.
validity.
The Oklahoma Space Industry Development Authority is authorized
in its discretion to file an application with the Supreme Court for
the approval of any bonds to be issued hereunder, and exclusive
original jurisdiction is hereby conferred upon the Supreme Court to
hear and determine each such application. It shall be the duty of
the Court to 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 thereto as speedily as possible.
Notice of the hearing on each application shall be given by a notice
Oklahoma Statutes - Title 3. Aircraft and Airports Page 150
published in a newspaper of general circulation in this state that
on a day named, the Authority will ask the Court to hear its
application and approve the bonds. Such notice shall inform all
persons interested that they may file protests against the issuance
of the bonds and be present at the hearing and contest the legality
thereof. Such 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 shall be satisfied that the bonds have been properly
authorized in accordance with the Oklahoma Space Industry
Development Act and that when issued, they will constitute valid
obligations in accordance with their terms, the Court shall render
its written opinion approving the bonds 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
bonds, shall be conclusive as to the Authority, its officers and
agents, and thereafter the bonds 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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