Bonds may be issued under a bond order at any time within seven yearsafter the bond order takes effect. Such period may be extended prior to theexpiration of such period from seven years to 10 years as hereinafter provided.The board of the issuing unit shall file an application for Commission approvalof such extension with the secretary of the Commission. The application shallstate such facts and have attached to it such documents concerning such extensionas the secretary may require. The Commission may prescribe the form of suchapplication. In determining whether to approve such extension, the Commissionmay inquire into and give consideration to any matters which it believes mayrelate to such extension.
The Commission may enter an order approving a proposed extension of themaximum time period for issuing bonds under a bond order from seven to 10 yearsif, upon the basis of the information and evidence it receives, it finds anddetermines that governmental approvals relative to the purpose to be financedin whole or in part with the proceeds of the bonds cannot be obtained withinseven years after the bond order has taken effect, that funds to be appliedtogether with the proceeds of the bonds to finance the purpose for which thebonds are to be issued will not be available within seven years after the bondorder has taken effect or that the proposed extension is necessary for otherreasons that are not within the direct control of the issuing unit other thanany order of any court. If the Commission enters an order denying suchextension, then the proceedings under this section shall be at an end.
If the Commission enters an order approving a proposed extension of themaximum time period for issuing bonds under a bond order as provided in thissection, then the board shall fix the time and place for a public hearing onsuch extension and the clerk shall publish such bond order once with thefollowing statement appended:
"The foregoing ordertook effect on________,______. Anyone who wishes to be heard on the questionof whether the maximum time period for issuing bonds under such order should beextended from seven years to 10 years after such date may appear at a publichearing or an adjournment thereof to be held at ______ on ______ at __________
(time) (date) (place)
____________________________________
Clerk"
Onthe date fixed for such hearing, which shall be not earlier than six days afterthe date of publication of the bond order with appended statement as providedin this section, the board shall hear anyone who might wish to be heard on thequestion of whether the maximum time period for issuing bonds under the bondorder should be extended from seven years to 10 years. The hearing may beadjourned from time to time.
After such hearing, the board may adopt an order providing that themaximum time period for issuing bonds under the bond order has been extendedfrom seven to 10 years after the bond order has taken effect. Such order shallprovide that it will take effect 30 days after its publication followingadoption.
After adoption, the clerk shall publish once an order extending themaximum time period for issuing bonds under a bond order with the followingstatement appended:
"The foregoing orderwas adopted on the ____ day of________,______, and is hereby published this____ day of________, _______. Any action or proceeding questioning the validityof such order must be begun within 30 days after the date of publication ofthis notice.
____________________________________
Clerk"
Any action or proceeding in any court to set aside an order extendingthe maximum time period for issuing bonds under a bond order, or to obtain anyother relief, upon the ground that such order is invalid, must be begun within30 days after the date of publication of such order as adopted. After theexpiration of this period of limitation, no right of action or defense basedupon the invalidity of such order shall be asserted nor shall the validity ofsuch order be open to question in any court upon any ground whatever, except inan action or proceeding begun within the period of limitation prescribed inthis section.
When the issuance of bonds under any bond order is prevented orprohibited by any order of any court, the period of time within which bonds maybe issued under the bond order in litigation shall be extended by the length oftime elapsing between the date of institution of the action or proceeding andthe date of its final disposition.
When the issuance of bonds under any bond order, to finance public improvements in an area to be annexed, is prevented or prohibited by reason oflitigation respecting the annexation and the Local Government Commission shallcertify to such effect, the period of time within which bonds may be issuedunder the bond order shall be extended by the length of time elapsing betweenthe date of institution of the litigation and the date of its finaldisposition.
The General Assembly may at any time prior to the expiration of themaximum time period herein provided extend the time for issuing bonds underbond orders.
When any such extension is effected or granted pursuant to thissection, no further approval of the voters shall be required. (1917, c. 138, s. 24; 1919, c. 178, s. 3(24); C.S., s.2950; 1921, c. 8, s. 1; Ex. Sess. 1921, c. 106, s. 1; 1927, c. 81; s. 32; 1939,c. 231, ss. 1, 2(d); 1947, c. 510, ss. 1, 2; 1949, c. 190, ss. 1, 2; 1951, c.439, ss. 1, 2; 1953, c. 693, ss. 1, 3; 1955, c. 704, ss. 1, 2; 1969, c. 99;1971, c. 780, s. 1; 1975, c. 545, s. 1; 1977, 2nd Sess., c. 1219, s. 36; 1979,c. 444, s. 1.)
Bonds may be issued under a bond order at any time within seven yearsafter the bond order takes effect. Such period may be extended prior to theexpiration of such period from seven years to 10 years as hereinafter provided.The board of the issuing unit shall file an application for Commission approvalof such extension with the secretary of the Commission. The application shallstate such facts and have attached to it such documents concerning such extensionas the secretary may require. The Commission may prescribe the form of suchapplication. In determining whether to approve such extension, the Commissionmay inquire into and give consideration to any matters which it believes mayrelate to such extension.
The Commission may enter an order approving a proposed extension of themaximum time period for issuing bonds under a bond order from seven to 10 yearsif, upon the basis of the information and evidence it receives, it finds anddetermines that governmental approvals relative to the purpose to be financedin whole or in part with the proceeds of the bonds cannot be obtained withinseven years after the bond order has taken effect, that funds to be appliedtogether with the proceeds of the bonds to finance the purpose for which thebonds are to be issued will not be available within seven years after the bondorder has taken effect or that the proposed extension is necessary for otherreasons that are not within the direct control of the issuing unit other thanany order of any court. If the Commission enters an order denying suchextension, then the proceedings under this section shall be at an end.
If the Commission enters an order approving a proposed extension of themaximum time period for issuing bonds under a bond order as provided in thissection, then the board shall fix the time and place for a public hearing onsuch extension and the clerk shall publish such bond order once with thefollowing statement appended:
"The foregoing ordertook effect on________,______. Anyone who wishes to be heard on the questionof whether the maximum time period for issuing bonds under such order should beextended from seven years to 10 years after such date may appear at a publichearing or an adjournment thereof to be held at ______ on ______ at __________
(time) (date) (place)
____________________________________
Clerk"
Onthe date fixed for such hearing, which shall be not earlier than six days afterthe date of publication of the bond order with appended statement as providedin this section, the board shall hear anyone who might wish to be heard on thequestion of whether the maximum time period for issuing bonds under the bondorder should be extended from seven years to 10 years. The hearing may beadjourned from time to time.
After such hearing, the board may adopt an order providing that themaximum time period for issuing bonds under the bond order has been extendedfrom seven to 10 years after the bond order has taken effect. Such order shallprovide that it will take effect 30 days after its publication followingadoption.
After adoption, the clerk shall publish once an order extending themaximum time period for issuing bonds under a bond order with the followingstatement appended:
"The foregoing orderwas adopted on the ____ day of________,______, and is hereby published this____ day of________, _______. Any action or proceeding questioning the validityof such order must be begun within 30 days after the date of publication ofthis notice.
____________________________________
Clerk"
Any action or proceeding in any court to set aside an order extendingthe maximum time period for issuing bonds under a bond order, or to obtain anyother relief, upon the ground that such order is invalid, must be begun within30 days after the date of publication of such order as adopted. After theexpiration of this period of limitation, no right of action or defense basedupon the invalidity of such order shall be asserted nor shall the validity ofsuch order be open to question in any court upon any ground whatever, except inan action or proceeding begun within the period of limitation prescribed inthis section.
When the issuance of bonds under any bond order is prevented orprohibited by any order of any court, the period of time within which bonds maybe issued under the bond order in litigation shall be extended by the length oftime elapsing between the date of institution of the action or proceeding andthe date of its final disposition.
When the issuance of bonds under any bond order, to finance public improvements in an area to be annexed, is prevented or prohibited by reason oflitigation respecting the annexation and the Local Government Commission shallcertify to such effect, the period of time within which bonds may be issuedunder the bond order shall be extended by the length of time elapsing betweenthe date of institution of the litigation and the date of its finaldisposition.
The General Assembly may at any time prior to the expiration of themaximum time period herein provided extend the time for issuing bonds underbond orders.
When any such extension is effected or granted pursuant to thissection, no further approval of the voters shall be required. (1917, c. 138, s. 24; 1919, c. 178, s. 3(24); C.S., s.2950; 1921, c. 8, s. 1; Ex. Sess. 1921, c. 106, s. 1; 1927, c. 81; s. 32; 1939,c. 231, ss. 1, 2(d); 1947, c. 510, ss. 1, 2; 1949, c. 190, ss. 1, 2; 1951, c.439, ss. 1, 2; 1953, c. 693, ss. 1, 3; 1955, c. 704, ss. 1, 2; 1969, c. 99;1971, c. 780, s. 1; 1975, c. 545, s. 1; 1977, 2nd Sess., c. 1219, s. 36; 1979,c. 444, s. 1.)
Bonds may be issued under a bond order at any time within seven yearsafter the bond order takes effect. Such period may be extended prior to theexpiration of such period from seven years to 10 years as hereinafter provided.The board of the issuing unit shall file an application for Commission approvalof such extension with the secretary of the Commission. The application shallstate such facts and have attached to it such documents concerning such extensionas the secretary may require. The Commission may prescribe the form of suchapplication. In determining whether to approve such extension, the Commissionmay inquire into and give consideration to any matters which it believes mayrelate to such extension.
The Commission may enter an order approving a proposed extension of themaximum time period for issuing bonds under a bond order from seven to 10 yearsif, upon the basis of the information and evidence it receives, it finds anddetermines that governmental approvals relative to the purpose to be financedin whole or in part with the proceeds of the bonds cannot be obtained withinseven years after the bond order has taken effect, that funds to be appliedtogether with the proceeds of the bonds to finance the purpose for which thebonds are to be issued will not be available within seven years after the bondorder has taken effect or that the proposed extension is necessary for otherreasons that are not within the direct control of the issuing unit other thanany order of any court. If the Commission enters an order denying suchextension, then the proceedings under this section shall be at an end.
If the Commission enters an order approving a proposed extension of themaximum time period for issuing bonds under a bond order as provided in thissection, then the board shall fix the time and place for a public hearing onsuch extension and the clerk shall publish such bond order once with thefollowing statement appended:
"The foregoing ordertook effect on________,______. Anyone who wishes to be heard on the questionof whether the maximum time period for issuing bonds under such order should beextended from seven years to 10 years after such date may appear at a publichearing or an adjournment thereof to be held at ______ on ______ at __________
(time) (date) (place)
____________________________________
Clerk"
Onthe date fixed for such hearing, which shall be not earlier than six days afterthe date of publication of the bond order with appended statement as providedin this section, the board shall hear anyone who might wish to be heard on thequestion of whether the maximum time period for issuing bonds under the bondorder should be extended from seven years to 10 years. The hearing may beadjourned from time to time.
After such hearing, the board may adopt an order providing that themaximum time period for issuing bonds under the bond order has been extendedfrom seven to 10 years after the bond order has taken effect. Such order shallprovide that it will take effect 30 days after its publication followingadoption.
After adoption, the clerk shall publish once an order extending themaximum time period for issuing bonds under a bond order with the followingstatement appended:
"The foregoing orderwas adopted on the ____ day of________,______, and is hereby published this____ day of________, _______. Any action or proceeding questioning the validityof such order must be begun within 30 days after the date of publication ofthis notice.
____________________________________
Clerk"
Any action or proceeding in any court to set aside an order extendingthe maximum time period for issuing bonds under a bond order, or to obtain anyother relief, upon the ground that such order is invalid, must be begun within30 days after the date of publication of such order as adopted. After theexpiration of this period of limitation, no right of action or defense basedupon the invalidity of such order shall be asserted nor shall the validity ofsuch order be open to question in any court upon any ground whatever, except inan action or proceeding begun within the period of limitation prescribed inthis section.
When the issuance of bonds under any bond order is prevented orprohibited by any order of any court, the period of time within which bonds maybe issued under the bond order in litigation shall be extended by the length oftime elapsing between the date of institution of the action or proceeding andthe date of its final disposition.
When the issuance of bonds under any bond order, to finance public improvements in an area to be annexed, is prevented or prohibited by reason oflitigation respecting the annexation and the Local Government Commission shallcertify to such effect, the period of time within which bonds may be issuedunder the bond order shall be extended by the length of time elapsing betweenthe date of institution of the litigation and the date of its finaldisposition.
The General Assembly may at any time prior to the expiration of themaximum time period herein provided extend the time for issuing bonds underbond orders.
When any such extension is effected or granted pursuant to thissection, no further approval of the voters shall be required. (1917, c. 138, s. 24; 1919, c. 178, s. 3(24); C.S., s.2950; 1921, c. 8, s. 1; Ex. Sess. 1921, c. 106, s. 1; 1927, c. 81; s. 32; 1939,c. 231, ss. 1, 2(d); 1947, c. 510, ss. 1, 2; 1949, c. 190, ss. 1, 2; 1951, c.439, ss. 1, 2; 1953, c. 693, ss. 1, 3; 1955, c. 704, ss. 1, 2; 1969, c. 99;1971, c. 780, s. 1; 1975, c. 545, s. 1; 1977, 2nd Sess., c. 1219, s. 36; 1979,c. 444, s. 1.)
