§ 5-1.5-4-5 — Resolution authorizing issuance; adoption; publication of notice; action to set aside resolution

Indiana § 5-1.5-4-5

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 1.5: INDIANA BOND BANK
• Ch. 4: Issuance of Obligations

Text

(a) Upon the adoption of a resolution
authorizing the issuance of bonds or notes, the bank may publish notice
of the adoption once each week for two (2) weeks in two (2)
newspapers published and of general circulation in the city of
Indianapolis.
(b) If notice is published as provided in subsection (a), any action
or proceeding in any court to set aside the resolution authorizing the
issuance of bonds or notes of the bank under this article or to obtain
any relief upon the ground that the resolution is invalid must be filed
within thirty (30) days following the first publication of notice of the
adoption of the resolution. After the expiration of this thirty (30) day
period, no right of action shall be asserted nor shall the validity of the
resolution or any of its provisions be open to question in any court or
agency upon any grounds whatsoever.

Legislative History

As added by P.L.25-1984, SEC.1.