§39-18 - Bonds negotiable, incontestable.
§39-18 Bonds negotiable,incontestable. This part, without reference to any other law, shall befull authority to issue, exchange, or sell bonds of the State, and the bondsand all interim receipts or certificates shall have all the qualities ofnegotiable paper under state law. The bonds shall not be invalid for anyirregularity or defect in the proceedings for the issue, sale, or exchangethereof. The bonds shall contain a recital that they have been authorized andissued pursuant to the laws of the State, which recital shall be conclusiveevidence of their validity and the regularity of their issuance. Noproceedings in respect of the issuance of any bonds shall be necessary exceptproceedings required by this part. [L 1988, c 28, pt of §3]