Oklahoma § 74-9057 - Application to Oklahoma Supreme Court for approval of

§ 74-9057. Application to Oklahoma Supreme Court for approval of

bonds.

The Oklahoma Development Finance Authority may file an

application with the Oklahoma Supreme Court for the approval of

bonds issued under this act, and exclusive original jurisdiction is

Oklahoma Statutes - Title 74. State Government

hereby conferred upon the Court to hear and determine each

application. The Court shall give such an application precedence

over the other business of the Court and consider and pass upon the

application and any protests which may be filed against such

application 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 by the

Authority will ask the Oklahoma Supreme Court to hear its

application and approve any bonds issued pursuant to the provisions

of this act. 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 at 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 the

State 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, this state, its

officers, agents and instrumentalities and all other persons, and

thereafter the bonds so approved and the revenues pledged to their

payment shall be incontestable in any court in this state.

Added by Laws 2021, c. 203, § 8, emerg. eff. April 23, 2021.