§ 34:1455 — Prescriptive period; sale of bonds

Louisiana § 34:1455

• Jurisdiction: Louisiana
• Title 34: Navigation and Shipping

Text

§1455. Prescriptive period; sale of bonds
A. For a period of thirty days from the date of the adoption of any resolution of the
commission authorizing the issuance of its bonds or notes, any person interested may test the
legality of the resolution and the validity of the bonds or notes issued or proposed to be
issued thereunder, after which time no one shall have any cause of action to contest the
regularity, formality, or legality of the resolution or to draw in question the legality of the
bonds or notes or the debt represented thereby for any cause whatever, and it shall be
conclusively presumed that every legal requirement has been complied with. No court shall
have authority to inquire into such matters after the lapse of thirty days.
B. Any bonds issued in accordance with the provisions of this Chapter shall be sold
in the manner determined by the commission.

Legislative History

Added by Acts 1956, No. 228, §1. Amended by Acts 1956, No. 246, §1; Acts 2016, No. 325, §1, eff. June 2, 2016.