§ 21-13-721 — Validation of outstanding bonds, acts and proceedings

All bonds of any school district in this state outstanding on
the effective date of this article, the right to the payment of
which has not been barred by any pertinent statute of
limitations, and all acts and proceedings heretofore had or
taken, or purportedly had or taken by or on behalf of such
district under law or under color of law preliminary to and in
the authorization, execution, sale, issuance and payment of all
such bonds, are hereby validated, ratified, approved and
confirmed, including but not necessarily limited to the terms,
provisions, conditions, and covenants of any resolution
appertaining thereto, the redemption of bonds before maturity
and provisions therefor, and the levy and collection of taxes to
pay such bonds, notwithstanding any lack of power, authority, or
otherwise, and notwithstanding any defects and irregularities in
such bonds, act, and proceedings, and in such authorization,
execution, sale, issuance, and payment. Such outstanding bonds
are and shall be binding, legal, valid, and enforceable
obligations of the school district issuing them in accordance
with their terms and the authorizing proceedings.