7-7-4430. Presumptions of validity of bonds.
140 words·~1 min read·
/mt/title-7/chapter-7/part-44/7-7-4430·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
7-7-4430 . Presumptions of validity of bonds.
(1)Said bonds bearing the signatures of officers in office on the date of the signing thereof shall be valid and binding obligations, notwithstanding that before the delivery thereof and payment therefor, any or all the persons whose signatures appear thereon shall have ceased to be officers of the municipality issuing the same.
(2)The validity of said bonds shall not be dependent on or affected by the validity or regularity of any proceedings relating to the acquisition, purchase, construction, reconstruction, improvement, betterment, or extension of the undertaking for which said bonds are issued.
(3)The resolution authorizing said bonds may provide that the bonds shall contain a recital that they are issued pursuant to this part, which recital shall be conclusive evidence of their validity and of the regularity of their issuance.