§39-57  Same, signatures.  The
revenue bonds bearing the signature of officers in office on the date of the
signing thereof shall be valid and sufficient for all purposes, and shall have
the same effect as if the persons officially signing the revenue bonds had
remained in office until the delivery of the revenue bonds to the initial
purchasers thereof, and in the case of fully registered revenue bonds upon any
exchange or transfer between subsequent holders thereof, notwithstanding that
the term of office of those persons or any of them may have expired or they may
otherwise have ceased to be those officers before the delivery, exchange, or
transfer.  If the director of finance shall have designated a registrar for
fully registered revenue bonds, the certificate or resolution authorizing the
revenue bonds may provide that none of those fully registered revenue bonds
shall be valid or obligatory for any purpose unless certified or authenticated
by the registrar.  If the certificate or resolution so provides, then all
signatures of the officers of the State upon the fully registered revenue bonds
may be facsimiles of the signatures, and the fully registered revenue bonds
shall be valid and sufficient only if certified or authenticated by the manual
signature of an authorized officer or signatory of the registrar.



Anything to the contrary notwithstanding, if
blanks of fully registered revenue bonds shall be held by a registrar pending
exchange or transfer for other fully registered revenue bonds of the same series,
then upon delivery of revenue bonds in an exchange or transfer, the revenue
bonds shall be valid and sufficient for all purposes, notwithstanding that the
signatures of the officers of the State appearing thereon shall be those of the
persons in office at the time of initial delivery of the revenue bonds or those
of the persons in office at the time of the exchange or transfer.  The validity
of the revenue 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 or establishment or administration of the loan program authorized
by law for which the revenue bonds are issued.



The resolution or certificate authorizing the
revenue bonds shall provide that the revenue 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. [L 1988, c
28, pt of §3]