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STATE OF OKLAHOMA
1st Session of the 59th Legislature (2023)
HOUSE BILL 2728 By: Menz
AS INTRODUCED
An Act relating to the Oklahoma Turnpike Authority;
amending 69 O.S. 2021, Section 1718, which relates to
judicial determination of validit y of bonds;
requiring certain notice; and providing an effective
date.
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. AMENDATORY 69 O.S. 2021, Section 1718, is
amended to read as follows:
Section 1718. Judicial determination of validity of bonds.
The Authority is authorized in its discretion to file an
application with the Supreme Court of Oklahoma 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
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of the hearing on each application shall be given by a notice
published in a newspaper of general circulation in the state , as
well as by certified mail to any and all real property owners
located within a one (1) mile radius of the specified pr oject, 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 Cou rt.
If the Court shall be satisfied that the bonds have b een properly
authorized in accordance with this article and that when issued,
they will constitute valid obligations in accordance with their
terms, the Court shall render its written opinion approv ing the
bonds and shall fix the time within which a petiti on 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 therea fter the bonds
so approved and the revenues pledged to the ir payment shall be
incontestable in any court in the State of O klahoma.
SECTION 2. This act shall become effective November 1, 2023.
59-1-6854 JBH 01/02/23