77-4427. Validity and enforceability of bonds, contracts, and agreements; presumption.
304 words·~1 min read·
/ne/chapter-77/77-4427A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
In any suit, action, or proceeding involving the validity or enforceability of any bonds, contract, or agreement of a city pursuant to the Good Life District Economic Development Act, or the security therefor, brought after the lapse of thirty days after the authorization by the governing body of such city for the issuance of such bonds or entry into such contract or agreement, any such bond, contract or agreement, and the security therefor and provisions therein, reciting in substance that it has been authorized by the city pursuant to the Good Life District Economic Development Act or to provide financing for a good life district economic development program shall be conclusively deemed to have been authorized for such purpose and such bonds, contracts, or agreement, and security therefor and provisions therein, issued or delivered pursuant to such authorization shall be conclusively deemed to have been issued, entered into, provided, and carried out in accordance and compliance with the purposes and provisions of the Good Life District Economic Development Act, and deemed to be valid and binding obligations and agreements of the city for the duration of the term of such obligations and agreements as provided therein.
In any suit, action, or proceedings involving the validity or enforceability of any bond of the city issued under the Good Life District Economic Development Act in whole or in part for a redevelopment project or the security therefor, any such bond reciting in substance that it has been issued by the city to aid, in whole or in part, in financing or refinancing a redevelopment project, as herein permitted, shall be conclusively deemed to have been issued for such purpose and such project shall be conclusively deemed to have been planned, located, and carried out in accordance with the purposes and provisions of the Community Development Law.