Title 36, Chapter 82, Section 21
( 36-82-21)
(a) Within 20 days from the date of the service upon the district
attorney or the Attorney General of notice of the fact that an
election was held or a resolution passed and that the election or
resolution was in favor of the issuance of the bonds, the district
attorney or the Attorney General shall prepare and file a petition
in the office of the clerk of the superior court of the county in
which the election was held or the resolution was passed, directed
to the superior court of the county, in the name of the state, and
against the county, municipality, or political subdivision desiring
to issue bonds under the election or resolution. The petition shall
set forth the service of the notice, the name of the county,
municipality, or political subdivision seeking to issue the bonds,
the principal amount of the bonds to be issued, the purpose for
which the bonds are issued, the interest rate or rates which the
bonds are to bear, and the amount of principal to be paid in each
year during the life of the bonds and shall state that the election
or resolution is prima facie in favor of the issuance of the bonds.
The petition, in lieu of specifying the rate or rates of interest
which the bonds are to bear, may set forth the wording which was
used with respect to interest in the notice which was published
calling the election to authorize the issuance of the bonds. The
district attorney or the Attorney General shall obtain, from the
judge of the court, an order requiring the county, municipality, or
political subdivision, by its proper officers, to appear at such
time and place, either in term or at chambers, within 20 days from
the filing of the petition, as the judge of the court may direct,
and to show cause, if any exists, why the bonds should not be
confirmed and validated. The petition and order shall be served in
the manner provided by law for the service of petitions upon
counties, municipalities, or political subdivisions. The officers of
the county, municipality, or political subdivision shall make sworn
answers to such petition at or before the date set in the order for
the hearing. (b) Within 20 days from the date of the service upon the district
attorney or the Attorney General of notice of the fact that a
resolution or ordinance was adopted by the governing body of the
county, municipality, or other political subdivision authorizing the
issuance of refunding bonds, the district attorney or the Attorney
General shall prepare and file a petition in the office of the clerk
of the superior court of the county in which the county,
municipality, or other political subdivision desiring to issue
refunding bonds is located, directed to the superior court of the
county, in the name of the state, and against the county,
municipality, or political subdivision desiring to issue refunding
bonds under the resolution or ordinance. The petition shall set
forth the service of the notice, the name of the county,
municipality, or political subdivision seeking to issue the
refunding bonds, the maximum principal amount of the refunding bonds
to be issued, the interest rate or rates which the bonds are to
bear, and also setting forth the principal amount of outstanding
bonded indebtedness to be refunded, the amount of principal to be
paid in each year over the remaining life of the bonds to be
refunded, the interest rate or rates per annum said outstanding
bonds which are to be refunded bear and a certified copy of the
resolution or ordinance so adopted authorizing the issuance of the
refunding bonds shall be attached to the petition and made a part
thereof. The petition, in lieu of specifying the rate or rates of
interest which the refunding bonds are to bear, may state that the
refunding bonds when issued will bear interest at a rate or rates
not exceeding a maximum rate per annum. The district attorney or the
Attorney General shall obtain, from the judge of the court, an order
requiring the county, municipality, or political subdivision, by its
proper officers, to appear at such time and place, either in term or
at chambers, within 20 days from the filing of the petition, as the
judge of the court may direct, and to show cause, if any exists, why
the refunding bonds should not be confirmed and validated. The
petition and order shall be served in the manner provided by law for
the service of petitions upon counties, municipalities, or political
subdivisions. The officers of the county, municipality, or political
subdivision shall make sworn answers to such petition at or before
the date set in the order for the hearing. |