§ 31-35-416 — Validation

All revenue bonds and any coupons appertaining
thereto relating to a water system, sewer system, or joint water and sewer system
issued or purportedly issued prior to March 13, 1962, and all acts and proceedings
had or taken or purportedly had or taken prior to said date by or on behalf of
municipalities, under law or under color of law, preliminary to and in the
authorization, execution, sale, and issuance of all water revenue bonds, sewer
revenue bonds, and joint water and sewer revenue bonds, including any coupons
appertaining thereto, the authorization and execution of all other contracts, and the
exercise of other powers in this part 4 are validated, ratified, approved, and
confirmed by this section except as provided in section 31-35-417, notwithstanding
any lack of power, authority, or otherwise, other than constitutional, and
notwithstanding any defects and irregularities, other than constitutional, in such
securities, acts, and proceedings, in such authorization, execution, sale, and
issuance, and in such exercise of powers; and such securities and other contracts
are and shall be binding, legal, valid, and enforceable obligations of such
municipality to which they appertain in accordance with their terms and their
authorization proceedings.

Legislative History

Source: L. 75: Entire title R&RE, p. 1260, � 1, effective July 1.