Okla. Stat. tit. 74, § 74-9079
This is the official text of Okla. Stat. tit. 74, § 74-9079, part of Oklahoma’s Stat. tit. 74, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 74,." Browse the sections below, each linked to its official government source.
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Application to Oklahoma Supreme Court for approval of
Official statutory text
ratepayer-backed bonds.
The Oklahoma Development Finance Authority shall file an
application with the Supreme Court of Oklahoma for the approval of
ratepayer-backed bonds issued under this act, and exclusive original
Oklahoma Statutes - Title 74. State Government Page 1263
jurisdiction is hereby conferred upon the Court to hear and
determine each application. The Court shall give such an
application precedence over the other business of the Court and
consider and pass upon the application and any protests which may be
filed against such application as speedily as possible. Notice of
the hearing on each application shall be given by notice published
in a newspaper of general circulation in the state that on a day
named by the Authority will ask the Oklahoma Supreme Court to hear
its application and approve the bonds. The 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. 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 at the discretion of the Court.
If the Court shall be satisfied that the bonds or any portions
thereof have been properly authorized in accordance with this act
and the Constitution of the State 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
ratepayer-backed 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, the state, its officers,
agents and instrumentalities, and all other persons, and thereafter
the bonds so approved and the revenues pledged to their payment
shall be incontestable in any court in this state.
The Oklahoma Development Finance Authority shall file an
application with the Supreme Court of Oklahoma for the approval of
ratepayer-backed bonds issued under this act, and exclusive original
Oklahoma Statutes - Title 74. State Government Page 1263
jurisdiction is hereby conferred upon the Court to hear and
determine each application. The Court shall give such an
application precedence over the other business of the Court and
consider and pass upon the application and any protests which may be
filed against such application as speedily as possible. Notice of
the hearing on each application shall be given by notice published
in a newspaper of general circulation in the state that on a day
named by the Authority will ask the Oklahoma Supreme Court to hear
its application and approve the bonds. The 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. 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 at the discretion of the Court.
If the Court shall be satisfied that the bonds or any portions
thereof have been properly authorized in accordance with this act
and the Constitution of the State 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
ratepayer-backed 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, the state, its officers,
agents and instrumentalities, and all other persons, 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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