10-112. Bonds required to be printed; recitals.
10-112
10-112. Bonds required to be printed; recitals.
All municipal bonds shall, unless otherwise approved by the attorney general,
be composed in type and printed. Such bonds shall constitute a general
obligation of the
municipality issuing the same and shall recite the authority under which
they are issued and that they are issued in conformity with the
provisions, restrictions and limitations thereof and that such bonds and
the interest thereon are to be paid by such municipality, and such
recital when said bonds have been duly registered as herein provided,
shall import absolute verity and shall be conclusive in favor of all
persons purchasing said bonds, that all proceedings and conditions
precedent have been had and performed to authorize the issuance of such
bonds and such bonds shall be negotiable.
History: R.S. 1923, § 10-112; L. 1978, ch. 46, § 1; July 1.