{"data":{"id":"us-ok/okla.-stat.-tit.-82-82-1085.42","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 82, § 82-1085.42","heading":"Judical review - Jurisdiction - Notice and hearing","body":"The Board is authorized in its discretion to file an application\n\nwith the Supreme Court of Oklahoma for approval by the Court of any\n\ninvestment certificates to be issued under the provisions of Section\n\n1085.33 of Title 82 of the Oklahoma Statutes, or to file a petition\n\nfor a judgment determining the validity of any proposed contract or\n\naction arising from the exercise of any of the powers, rights,\n\nprivileges and functions conferred upon the Board, eligible public\n\nagencies or public trusts under the provisions of Sections 1085.33\n\nthrough 1085.39 of the Oklahoma Statutes and Sections 9 and 10 of\n\nthis act; and exclusive original jurisdiction is hereby conferred\n\nupon the Supreme Court to hear and determine each such application\n\nor petition. Notice of the hearing on each application and petition\n\nshall be given by a notice published in a newspaper of general\n\ncirculation in the state that on a day named the Board will ask the\n\nCourt to hear its application and approve the investment\n\ncertificates, or hear its petition and enter a declaratory judgment.\n\nSuch notice shall inform property owners, taxpayers, ratepayers,\n\ncitizens and all persons having or claiming any right, title or\n\ninterest in such matter or properties or funds to be affected by the\n\nissuance of such investment certificates, or proposed contract or\n\naction, or affected in any way thereby, that they may file protests\n\nagainst the issuance of the investment certificates, the validity of\n\nthe contracts or action, or the declaratory judgment, and be present\n\nat the hearings and contest the legality thereof. Such notice shall\n\nbe published one time not less than ten (10) days prior to the date\n\nnamed for the hearing and the hearing may be adjourned from time to\n\ntime in the discretion of the Court. If the Court is satisfied that\n\nthe investment certificates described in the application have been\n\nproperly authorized in accordance with Sections 1085.33 through\n\n1085.37 of Title 82 of the Oklahoma Statutes and that, when issued,\n\nthey will constitute valid obligations in accordance with their\n\nterms, the Court shall render its written opinion approving the\n\ninvestment certificates, and shall, upon application of the Board,\n\nalso issue an order permanently enjoining all persons described in\n\nthe aforesaid notice from thereafter instituting any action or\n\nproceeding contesting the validity of such investment certificates,\n\nor of the rates, fees or charges authorized to be charged for the\n\npayment thereof, or the pledge of revenues, monies, securities,\n\ncontract rights or other personal property to secure such payment,\n\nand shall fix the time within which a petition for rehearing may be\n\nfiled. If the Court is satisfied that a proposed contract or action\n\ndescribed in a petition filed pursuant to this section is in\n\naccordance with the provisions of Sections 1085.33 through 1085.39\n\nof Title 82 of the Oklahoma Statutes and Sections 9 and 10 of this\n\nact, the Court shall enter a judgment approving and declaring such\n\ncontract or action to be valid, and shall, upon application of the\n\nBoard, also issue an order permanently enjoining all persons\n\ndescribed in the aforesaid notice from thereafter instituting any\n\naction or proceeding contesting the validity of such contract or\n\naction, and shall fix the time within which the petition for\n\nrehearing may be filed. The decision of the Court shall be a\n\njudicial determination of the validity of the investment\n\ncertificates, shall be conclusive as to the Board, its officers and\n\nagents, and thereafter the obligations so approved and the revenues,\n\nmonies, securities, contract rights or other personal property\n\npledged to their payments shall be incontestable in any court in the\n\nState of Oklahoma, and any declaratory judgment on any contract or\n\naction of the Board, any eligible public agency or any public trust\nates, shall be conclusive as to the Board, its officers and\n\nagents, and thereafter the obligations so approved and the revenues,\n\nmonies, securities, contract rights or other personal property\n\npledged to their payments shall be incontestable in any court in the\n\nState of Oklahoma, and any declaratory judgment on any contract or\n\naction of the Board, any eligible public agency or any public trust\n\nentered pursuant to this section shall have the force and effect of\n\na final judgment or decree.","path":["OK Code","Title 82"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os82.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"f41fcf6e5df9ed7d139736f4e6c97be4e27b3afc2f8c2ac313f15bf10fd1ce13","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-82-82-1085.41","next":"us-ok/okla.-stat.-tit.-82-82-1085.43"},"notice":"GroundRules: Original legal text. Not legal advice."}