Section 9-809 - Validity of bonds.
§ 9-809. Validity of bonds.
(a) Signatures.-
(1) Any bond issued under this subtitle that bears the signatures of the officers in office on the date the bond is signed is a valid and binding obligation notwithstanding that:
(i) At the time of delivery of or payment for the bond, any or all of the signers are no longer officers of the municipality; or
(ii) Any proceeding that relates to the development of the sewerage facility for which the bond is issued is invalid or irregular.
(2) A signature may be by facsimile as provided in § 2-303 of the State Finance and Procurement Article.
(b) Recital.- A recital in the bond that the bond is issued under this subtitle is conclusive evidence of:
(1) The validity of the bond; and
(2) The regularity of the issuance of the bond.
[An. Code 1957, art. 43, § 433; 1982, ch. 240, § 2; 1985, ch. 717, § 1.]