2014 Louisiana Laws
Revised Statutes
TITLE 39 - Public Finance
RS 39:1808 - Grant anticipatory notes; publication of resolution; prescription

§1808. Grant anticipatory notes; publication of resolution; prescription

Any resolution or ordinance authorizing the issuance of grant anticipation notes shall be published one time in the official journal of the issuing public entity; however, it shall not be necessary to publish any exhibits to such resolution or ordinance if the same are available for public inspection and such fact is stated in the publication. For thirty days after the date of publication, any person in interest may contest the legality of the resolution or ordinance, any provision of the grant anticipation notes to be issued pursuant to it, the provisions therein made for the security and payment of notes, and the validity of all other provisions and proceedings relating to the authorization and issuance of such notes. After that time, no person may contest the regularity, formality, legality, or effectiveness of the resolution or ordinance, any provisions of the notes to be issued pursuant to it, the provisions for the security and payment of the notes, and the validity of all other provisions and proceedings relating to their authorization and issuance for any cause whatever. Thereafter, it shall be conclusively presumed that the notes are legal and that every legal requirement for the issuance of the notes has been complied with. No court shall have authority to inquire into any of these matters after the thirty days.

Added by Acts 1980, No. 257, §1, eff. July 12, 1980.