Oklahoma § 62-830 - Application to Supreme Court for validation of bonds –

§ 62-830. Application to Supreme Court for validation of bonds –

Notice – Conclusiveness of determination.

A. The Governor is hereby authorized to file an application, at

the Governor's discretion, with the Supreme Court of Oklahoma for

the validation of any bonds to be issued hereunder or for any writ,

including mandamus, which may lie in relation to any action to be

taken by the governing body of a Participating Entity. Exclusive

original jurisdiction is hereby conferred upon the Supreme Court to

hear and determine each such application. Notice of the hearing on

Oklahoma Statutes - Title 62. Public Finance

each application shall be given by a notice published in a newspaper

of general circulation within the Regional District. Such notice

shall inform all persons interested that they may file protests

against the validation or approval and be present at the hearing and

contest the same. 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 at the discretion of the

court.

B. In any action to approve bonds, if the Supreme Court is

satisfied that the bonds have been properly authorized in accordance

with the provisions of this act, and that when issued they will

constitute valid obligations of the respective issuers in accordance

with their terms, the Supreme 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 Supreme Court shall

be a judicial determination of the validity of the bonds, shall be

conclusive as to the governing body of each Participating Entity,

and thereafter the bonds so approved and the revenues pledged to

their payment shall be incontestable in any court of the State of

Oklahoma.

Added by Laws 2001, c. 318, § 10, eff. Nov. 8, 2002.