§ 5-1.4-9-1 — Limitation of actions

Indiana § 5-1.4-9-1

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 1.4: LOCAL PUBLIC IMPROVEMENT BOND BANKS
• Ch. 9: Miscellaneous Provisions

Text

(a) No action to contest the validity of any
bonds or notes of the bank may be brought after the fifteenth day
following the adoption of the resolution authorizing the sale of the
bonds or notes. No action to contest the validity of any bond sale under
this chapter may be brought after the fifth day following the bond sale.
(b) If an action challenging the bonds or notes of the bank is not
brought within the time prescribed by subsection (a), all bonds or notes
of the bank shall be conclusively presumed to be fully authorized and
issued under the laws of Indiana, and a person or a qualified entity is
estopped from questioning their authorization, sale, issuance,
execution, or delivery by the bank.
(c) Insofar as this article is inconsistent with the provisions of any
other law, general, special, or local, this article shall be controlling.

Legislative History

As added by P.L.42-1985, SEC.1. Amended by P.L.2-1989, SEC.13.