Section 37-47-37 - Prerequisites to issuance of bonds

If it shall appear to the satisfaction of the state bond commission from the request provided for in Section 37-47-35:(a) That the estimate of the needs for the then current fiscal year as shown pursuant to the requirement of Section 37-47-35, requires bonds to be issued in the amount requested; and(b) That the issue will be within the limitations prescribed by Section 37-47-33; then it shall be the duty of the state bond commission to issue state school bonds in accordance with said request.Codes, 1942, § 6247-12; Laws, 1953, Ex Sess, ch. 13, § 12; Laws, 1955, Ex Sess, ch. 56, § 1.