Oklahoma § 70-4011 - Approval of bonds by Supreme Court

§ 70-4011. Approval of bonds by Supreme Court

The board 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

Oklahoma Statutes - Title 70. Schools

applications precedence over the other business of the Court and to

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 given by a notice published in a newspaper

of general circulation in the state 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 the provisions of this article 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 board, 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.

Laws 1965, c. 396, § 1011.