Sec. 7-233g. Filing of bond resolution. Notice. Action challenging validity of bond resolution to be brought within twenty days or forever barred.
Sec. 7-233g. Filing of bond resolution. Notice. Action challenging validity of
bond resolution to be brought within twenty days or forever barred. Any municipal
cooperative may cause a copy of any bond resolution adopted by it to be filed for public
inspection in its office and in the office of the appropriate public official of the governing
body of each of its members and may thereupon cause to be published in a newspaper
or newspapers published or circulating in the area of operation a notice stating the fact
and date of such adoption and the places where such bond resolution has been so filed
for public inspection and also the date of the first publication of such notice and also
that any action or proceeding of any kind or nature in any court questioning the validity
or proper authorization of bonds provided for by the bond resolution, or the validity of
any covenants, agreements or contract provided for by the bond resolution shall be
commenced within twenty days after the first publication of such notice. If any such
notice shall at any time be published and if no action or proceeding questioning the
validity or proper authorization of bonds provided for by the bond resolution referred
to in said notice, or the validity of any covenants, agreements or contracts provided for
by said bond resolution shall be commenced or instituted within twenty days after the
first publication of said notice, then all residents and taxpayers and owners of property
in the area of operation and users of the project and all other persons whatsoever shall
be forever barred and foreclosed from instituting or commencing any action or proceeding in any court, or from pleading any defense to any action or proceedings, questioning
the validity or proper authorization of such bonds, or the validity of any such covenants,
agreements or contracts, and said bonds, covenants, agreements and contracts shall be
conclusively deemed to be valid and binding obligations in accordance with their terms
and tenor.
(P.A. 75-634, S. 7, 24.)