40:37B-25 - Failing copy of bond resolution;Ā publication of notice
40:37B-25.Ā Failing copy of bond resolution;Ā publication of notice
An authority shall cause a copy of any bond resolution adopted by it to be filed for public inspection in its office and in the office of the clerk of theĀ governing body of the county and may thereupon cause to be published at leastĀ once in a newspaper published or circulating in the county a notice stating theĀ fact and date of such adoption and the places where such bond resolution hasĀ been so filed for public inspection and also the date of the first publicationĀ of such notice and also stating that any action or proceeding of any kind orĀ nature in any court questioning the validity or proper authorization of bondsĀ provided for by the bond resolution, or the validity of any covenants,Ā agreements or contracts provided for by the bond resolution shall be commencedĀ within 20 days after the first publication of such notice.Ā If any such noticeĀ shall at any time be published and if no action or proceeding questioning theĀ validity or proper authorization of bonds provided for by the bond resolution referred to in said notice, or the validity of any covenants, agreements orĀ contracts provided for by said bond resolution shall be commenced or institutedĀ within 20 days after the first publication of said notice, then all residentsĀ and taxpayers and owners of property in the county and all other persons shallĀ be forever barred and foreclosed from instituting or commencing any action or proceeding in any court, or from pleading any defense to any action or proceeding, questioning the validity or proper authorization of such bonds, orĀ the validity of such covenants, agreements or contracts, and said bonds, covenants, agreements and contracts shall be conclusively deemed to be valid and binding obligations in accordance with their terms and tenor.
L.1967, c. 136, s. 25, eff. June 28, 1967.
An authority shall cause a copy of any bond resolution adopted by it to be filed for public inspection in its office and in the office of the clerk of theĀ governing body of the county and may thereupon cause to be published at leastĀ once in a newspaper published or circulating in the county a notice stating theĀ fact and date of such adoption and the places where such bond resolution hasĀ been so filed for public inspection and also the date of the first publicationĀ of such notice and also stating that any action or proceeding of any kind orĀ nature in any court questioning the validity or proper authorization of bondsĀ provided for by the bond resolution, or the validity of any covenants,Ā agreements or contracts provided for by the bond resolution shall be commencedĀ within 20 days after the first publication of such notice.Ā If any such noticeĀ shall at any time be published and if no action or proceeding questioning theĀ validity or proper authorization of bonds provided for by the bond resolution referred to in said notice, or the validity of any covenants, agreements orĀ contracts provided for by said bond resolution shall be commenced or institutedĀ within 20 days after the first publication of said notice, then all residentsĀ and taxpayers and owners of property in the county and all other persons shallĀ be forever barred and foreclosed from instituting or commencing any action or proceeding in any court, or from pleading any defense to any action or proceeding, questioning the validity or proper authorization of such bonds, orĀ the validity of such covenants, agreements or contracts, and said bonds, covenants, agreements and contracts shall be conclusively deemed to be valid and binding obligations in accordance with their terms and tenor.
L.1967, c. 136, s. 25, eff. June 28, 1967.