§ 32-4-547 — Effect of and limitations upon validation

This part 5 shall
operate to supply such legislative authority as may be necessary to validate any
securities issued, other contracts executed by districts, and any acts and
proceedings taken prior to February 12, 1962, appertaining to the issuance of
securities or execution of other contracts by districts or otherwise, which the
legislature could have supplied or provided for in the law under which such
securities were issued, or such other contracts were executed and such acts or
proceedings were taken; but this part 5 shall be limited to the validation of
securities, other contracts, acts, and proceedings to the extent to which the same
can be effectuated under the state and federal constitutions. This part 5, shall not
operate to validate, ratify, approve, confirm, or legalize any bond or other security,
other contract, act, proceedings, or other matter the legality of which is being
contested or inquired into in any legal proceedings pending and undetermined on
February 12, 1962, and shall not operate to confirm, validate, or legalize any bond or
other security, other contract, act, proceedings, or other matter which has been
determined in any legal proceedings to be illegal, void, or ineffective prior to
February 12, 1962.

Legislative History

Source: L. 62: p. 224, � 16. C.R.S. 1963: � 89-15-47.