Oklahoma § 73-160 - Approval of bonds by Supreme Court

§ 73-160. Approval of bonds by Supreme Court

The Oklahoma Capitol Improvement Authority may file an

application with the Supreme Court of Oklahoma for the approval of

bonds issued hereunder, and exclusive original jurisdiction is

hereby conferred upon the Supreme Court to hear and determine each

application. The court shall give the applications precedence over

the other business of the court and 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

Oklahoma Statutes - Title 73. State Capital and Capitol Building

given by notice published in a newspaper of general circulation in

the state that on a day named the Authority will ask the 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 in 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 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

Authority, the State of Oklahoma, its officers, agents and

instrumentalities, and all other persons, and thereafter the bonds

so approved and the rents and revenues pledged to their payment

shall be incontestable in any court in the State of Oklahoma.

Added by Laws 1959, p. 253, § 10, emerg. eff. June 27, 1959.

Amended by Laws 2002, c. 481, § 1.