Oklahoma § 70-821.8 - Judicial determination of validity of bonds

§ 70-821.8. Judicial determination of validity of bonds

That the governing body of such municipality 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 applications

precedence over the other business of the Court and to consider and

pass upon the application and any protest which may be filed thereto

as speedily as possible. Notice of the hearing on each application

Oklahoma Statutes - Title 70. Schools

shall be given by a notice published in a newspaper of general

circulation in the independent school district 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 this

act 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 governing body of said independent

school district, 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 1947, p. 519, § 8.