§39-18 Bonds negotiable, incontestable.
127 words·~1 min read·
/hi/chapter-39/39-18A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§39-18 Bonds negotiable, incontestable. This part, without reference to any other law, shall be full authority to issue, exchange, or sell bonds of the State, and the bonds and all interim receipts or certificates shall have all the qualities of negotiable paper under state law. The bonds shall not be invalid for any irregularity or defect in the proceedings for the issue, sale, or exchange thereof. The bonds shall contain a recital that they have been authorized and issued pursuant to the laws of the State, which recital shall be conclusive evidence of their validity and the regularity of their issuance.
No proceedings in respect of the issuance of any bonds shall be necessary except proceedings required by this part. [L 1988, c 28, pt of §3]