90-4-1217. Presumptions of validity of bonds.
90-4-1217. Presumptions of validity of bonds. (1) Bonds issued under this part bearing the signatures of officers in office on the date of the signing of the bonds are valid and binding obligations even if, before bond delivery and payment, the persons whose signatures appear on the bonds are no longer officers of the governmental body issuing the bonds.
(2) The validity of the bonds is not dependent on or affected by the validity or regularity of any proceedings relating to the acquisition, purchase, construction, reconstruction, improvement, or extension of the project for which the bonds are issued.
(3) The resolution authorizing the bonds may provide that the bonds must contain a recital that they are issued pursuant to this part and that the recital is conclusive evidence of the bonds' validity and of the regularity of the bonds' issuance.
History: En. Sec. 12, Ch. 378, L. 2007.