12-5226. Bonds; signatures of officers; validity.
12-5226
12-5226. Bonds; signatures of officers; validity.
The bonds shall bear the manual or facsimile signatures of such officers
of a city or county as may be designated in the ordinance authorizing
such bonds and such signatures shall constitute the valid and binding signatures
of such officers, notwithstanding that before the delivery thereof and payment
therefor any or all of the persons whose signatures appear thereon have
ceased to be officers of such city or county. The validity of the bonds
shall not be dependent on nor affected by the validity or regularity of
any proceedings relating to the home mortgage loans acquired or made from
proceeds of the bonds. The ordinance authorizing the bonds may provide that
the bonds shall contain a recital that they are issued pursuant to this
act, which recital
shall be conclusive evidence of their validity and of the regularity of their issuance.
History: L. 1982, ch. 60, § 8; April 22.