Okla. Stat. tit. 62, § 62-57.42
This is the official text of Okla. Stat. tit. 62, § 62-57.42, part of Oklahoma’s Stat. tit. 62, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 62,." Browse the sections below, each linked to its official government source.
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Approval of bonds by Supreme Court
Official statutory text
The Commission is authorized in its discretion to file an
application with the Supreme Court of Oklahoma for the approval of
any series of 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 such applications and any
protests which may be filed thereto as speedily as possible. Notice
of the hearing on each application shall be given by notice
published in an newspaper of general circulation in the state that
on a day named the Commission 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
Oklahoma Statutes - Title 62. Public Finance Page 219
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 this act and Section 34, Article X, of
the Constitution of Oklahoma, 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 State of
Oklahoma, its officers, agents and instrumentalities, and thereafter
the bonds so approved and the revenues pledged to their payment
shall be incontestable in any court in the State of Oklahoma.
application with the Supreme Court of Oklahoma for the approval of
any series of 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 such applications and any
protests which may be filed thereto as speedily as possible. Notice
of the hearing on each application shall be given by notice
published in an newspaper of general circulation in the state that
on a day named the Commission 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
Oklahoma Statutes - Title 62. Public Finance Page 219
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 this act and Section 34, Article X, of
the Constitution of Oklahoma, 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 State of
Oklahoma, its officers, agents and instrumentalities, and thereafter
the bonds so approved and the revenues pledged to their payment
shall be incontestable in any court in the State of Oklahoma.
Status: in_force · Read it on the official government site
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