§ 16-5-204 — Prior securities; limitations; exceptions

This act validates any public securities heretofore issued and
any acts and proceedings heretofore taken which the legislature
could have supplied or provided for in the law under which the
public securities were issued and the acts or proceedings were
taken. This act is limited to the validation of public
securities, acts and proceedings to the extent they can be
effectuated under the state and federal constitutions. This act
does not validate, ratify, approve, confirm or legalize any
public security, act, proceeding or other matter the legality of
which is being contested in any legal proceeding now pending and
undetermined, and does not confirm, validate or legalize any
public security, act, proceedings, or other matter which has
heretofore been determined in any legal proceeding to be
illegal, void or ineffective.