Oklahoma 2024 Regular Session

Oklahoma House Bill HB2728 Compare Versions

Only one version of the bill is available at this time.

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28	28	STATE OF OKLAHOMA
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30	30	1st Session of the 59th Legislature (2023)
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32	32	HOUSE BILL 2728 By: Menz
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38	38	AS INTRODUCED
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40	40	An Act relating to the Oklahoma Turnpike Authority;
41	41	amending 69 O.S. 2021, Section 1718, which relates to
42	42	judicial determination of validit y of bonds;
43	43	requiring certain notice; and providing an effective
44	44	date.
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52	52	BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
53	53	SECTION 1. AMENDATORY 69 O.S. 2021, Section 1718, is
54	54	amended to read as follows:
55	55	Section 1718. Judicial determination of validity of bonds.
56	56	The Authority is authorized in its discretion to file an
57	57	application with the Supreme Court of Oklahoma for the approval of
58	58	any bonds to be issued hereunder, and exclusive original
59	59	jurisdiction is hereby conferred upon the Supreme Court to hear and
60	60	determine each such application. It shall be the duty of the Court
61	61	to give such applications precedence over the other business of the
62	62	Court and to consider and pass upon the applications and any
63	63	protests which may be filed thereto as speedily as possible. Notice
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90	90	of the hearing on each application shall be given by a notice
91	91	published in a newspaper of general circulation in the state , as
92	92	well as by certified mail to any and all real property owners
93	93	located within a one (1) mile radius of the specified pr oject, that
94	94	on a day named the Authority will ask the Court to hear its
95	95	application and approve the bonds. Such notice shall inform all
96	96	persons interested that they may file protests against the issuance
97	97	of the bonds and be present at the hearing and contest the legality
98	98	thereof. Such notice shall be published one time not less than ten
99	99	(10) days prior to the date named for the hearing and the hearing
100	100	may be adjourned from time to time in the discretion of the Cou rt.
101	101	If the Court shall be satisfied that the bonds have b een properly
102	102	authorized in accordance with this article and that when issued,
103	103	they will constitute valid obligations in accordance with their
104	104	terms, the Court shall render its written opinion approv ing the
105	105	bonds and shall fix the time within which a petiti on for rehearing
106	106	may be filed. The decision of the Court shall be a judicial
107	107	determination of the validity of the bonds, shall be conclusive as
108	108	to the Authority, its officers and agents, and therea fter the bonds
109	109	so approved and the revenues pledged to the ir payment shall be
110	110	incontestable in any court in the State of O klahoma.
111	111	SECTION 2. This act shall become effective November 1, 2023.
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113	113	59-1-6854 JBH 01/02/23