Oklahoma § 62-57.135 - Approval of bonds by Supreme Court

§ 62-57.135. Approval of bonds by Supreme Court

The Commission is authorized in its discretion to file an

application with the Supreme Court of Oklahoma for the approval of

the bonds 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 a 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 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 38, 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.

Laws 1969, c. 339, § 15, emerg. eff. May 8, 1969.