§ 8-16-15.5-8 — Bonds and notes

Indiana § 8-16-15.5-8

• Jurisdiction: Indiana
• Art. 16: BRIDGES AND TUNNELS
• Ch. 15.5: New Harmony and Wabash River Bridge Authority

Text

(a) The bridge authority may, by resolution,
issue and sell bonds or notes of the bridge authority for the purpose of
providing funds to implement this chapter.
(b) Before issuing a series of bonds or notes, the bridge authority
shall publish a notice of its determination to issue the bonds or notes in
accordance with IC 5-3-1.
(c) No action to contest the validity of:
(1) any contract entered into by the bridge authority before the
bonds or notes are issued; or
(2) a series of bonds or notes issued by the bridge authority;
may be brought after the thirty (30) days following the publication of
the notice required by subsection (b).
(d) If an action challenging a contract, bond, or note is not brought
within the time frame described in subsection (c), the contract, bond,
or note shall be presumed to be fully authorized and valid under the
laws of the state and any person or entity may not question the
authorization, validity, execution, delivery, or issuance of the contract,
bond, or note.

Legislative History

As added by P.L.185-2018, SEC.27.