§ 5-1-6-6 — Validity of authorization; issuance and obligations; recitals in bond

Refunding bonds bearing the signatures of
officers of the issuing body in office on the date of the signing shall be
valid and binding obligations of the issuing body for all purposes,
notwithstanding that before the delivery thereof any or all of the
persons whose signatures appear thereon shall have ceased to be
officers of the issuing body, the same as if such persons had continued
to be officers of the issuing body until after delivery. The validity of the
authorization and issuance of the refunding bonds shall not be
dependent on or affected in any way by proceedings taken for the
improving of any enterprise for the refinancing and improving of which
the refunding bonds are to be issued, or by contracts made in
connection with the improving of any such enterprise. Any resolution
or ordinance authorizing refunding bonds may provide that any such
refunding bond may contain a recital that such refunding bond is issued
pursuant to this chapter, and any refunding bond containing such recital
under authority of any such resolution shall be conclusively deemed to
be valid and to have been issued in conformity with the provisions of
this chapter.
[Pre-Local Government Recodification Citation:
19-8-7-6.]
As added by Acts 1980, P.L.8, SEC.10.