2016 Louisiana Laws
Revised Statutes
TITLE 34 - Navigation and Shipping
RS 34:340.4 - Bonds; contestability
§340.4. Bonds; contestability
A. No proceedings in respect to the issuance of any such bonds shall be necessary except such as are contemplated by this Subpart.
B. For a period of thirty days after the date of publication of the resolution authorizing the issuance of bonds hereunder any persons in interest shall have the right to contest the legality of the resolution and the legality of the bond issue for any cause, but after that time no one shall have any cause or right of action to contest the legality of the resolution or of the bonds authorized hereby for any cause whatsoever.
C. If no suit, action, or proceedings is begun contesting the validity of the bond issue within the thirty days herein prescribed, the authority to issue the bonds and to provide for the payment thereof, the legality thereof, and of all of the provisions of the resolution authorizing the issuance of the bonds shall be conclusively presumed, and no court shall have authority to inquire into such matters.
Added by Acts 1975, No. 101, §1.
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