45-1994. Hearing; findings
A. The chairman of the board, at the earliest practical date, shall fix a time and
place for a hearing at least twenty but not more than thirty days after adopting the
resolution. The authority shall publish notice of the time and place fixed for the
hearing twice in a newspaper of general circulation in the county in which the authority
is established.
B. All pertinent records and documents shall be filed at least ten days before the
date set for the hearing. Prehearings respecting any particular document, feature or
incidental matter or any separable part or portion of any resolution may be held by the
board on ten days' previous written notice if the board deems that holding a prehearing
is conducive to expediting a final hearing, and a decision as to the issues presented may
thereupon be rendered.
C. At the time and place fixed for the hearing, the board shall examine and
determine the matters and questions involved. Hearings may be recessed, adjourned or
continued as the board orders.
D. Any person who holds an original agreement or proposal made with the authority
relating to or concerning the handling, sale, control or disposition of a proposed issue
of bonds or who has previously made an offer or bid in good faith to purchase the bonds
pursuant to a published invitation for bids by the authority, and any operating unit
holding contracts with the authority at least ten days before the date fixed for the
hearing, may qualify to be heard.
E. If the board finds that all precedent requirements and conditions have been
fulfilled, it shall approve the bond issue in whole or in part or shall otherwise
disapprove the bond issue as a whole or as to such features or proposals as do not meet
the essential requirements. When the board has made and entered its findings, it shall
enter a decision accordingly.
F. The decision of the board based on findings of fact that are supported by a
preponderance of the evidence and that are not arbitrary or unreasonable is final and
conclusive.
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