Okla. Stat. tit. 70, § 70-821.8
This is the official text of Okla. Stat. tit. 70, § 70-821.8, part of Oklahoma’s Stat. tit. 70, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 70,." Browse the sections below, each linked to its official government source.
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Judicial determination of validity of bonds
Official statutory text
That the governing body of such municipality 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 the application and any protest which may be filed thereto
as speedily as possible. Notice of the hearing on each application
Oklahoma Statutes - Title 70. Schools Page 1137
shall be given by a notice published in a newspaper of general
circulation in the independent school district that on a day named
the board 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 this
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 governing body of said independent
school district, its officers and agents, and thereafter the bonds
so approved and the revenues pledged to their payment shall be
incontestable in any court in the State of Oklahoma.
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 the application and any protest which may be filed thereto
as speedily as possible. Notice of the hearing on each application
Oklahoma Statutes - Title 70. Schools Page 1137
shall be given by a notice published in a newspaper of general
circulation in the independent school district that on a day named
the board 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 this
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 governing body of said independent
school district, its officers and agents, 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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