2011 Louisiana Laws
Revised Statutes
TITLE 39 — Public finance
RS 39:697 — Sufficiency of proceedings; law merchant; thirty-day period for questioning validity of bonds


LA Rev Stat § 39:697 What's This?

§697. Sufficiency of proceedings; law merchant; thirty-day period for questioning validity of bonds

The governing body of each of the political subdivisions and each parish school board shall have full power and authority to adopt all ordinances or resolutions necessary to carry the provisions of this Subpart into effect. No proceedings in respect to the issuance of any such refunding bonds shall be necessary, except such as are contemplated by this Subpart. The refunding bonds issued hereunder shall be and are hereby declared to have the qualities of negotiable paper under the law merchant. If the validity of any refunding bonds issued under the provisions of this Subpart is not raised within thirty days after the date of publication of the issuing of the bonds, the authority to issue the bonds, the legality thereof, and the validity of the taxes necessary to pay the same shall be conclusively presumed and no court shall have authority to inquire into such matters.

Added by Acts 1975, No. 153, §1.

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