Oklahoma § 3-538 Application to Supreme Court for approval of bonds —

Oklahoma Statutes

§ 3-538 — Application to Supreme Court for approval of bonds —

Oklahoma § 3-538

Title 3Aircraft And Airports

This text of Oklahoma § 3-538 (Application to Supreme Court for approval of bonds —) is published on Counsel Stack Legal Research, covering Oklahoma primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Okla. Stat. tit. 3, § 3-538 (2026).

Text

Jurisdiction — Notice of hearing — Protest — Determination of validity. The Oklahoma Space Industry Development Authority is authorized in its discretion to file an application with the Supreme Court for the approval of any 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 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 this state that on a day named, the Authority will ask the Court to hear its a

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Jurisdiction — Notice of hearing — Protest — Determination of validity. The Oklahoma Space Industry Development Authority is authorized in its discretion to file an application with the Supreme Court for the approval of any 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 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 this state that on a day named, the Authority 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 Oklahoma Space Industry Development 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 Authority, its officers and agents, and thereafter the bonds so approved and the revenues pledged to their payment shall be incontestable in any court in this state.

Legislative History

Added by Laws 1999, c. 164, § 28, eff. July 1, 1999. Amended by Laws 2025, c. 274, § 13, eff. July 1, 2025. Renumbered from § 5228 of Title 74 by Laws 2025, c. 274, § 45, eff. July 1, 2025.