§ 2-408. Validation of bonds.  


Latest version.
  • Bonds of the authority shall be confirmed and validated in accordance with the procedure of O.C.G.A. tit. 36, ch. 82, art. 3 (O.C.G.A. § 36-82-60 et seq.), the Revenue Bond Law. The petition for validation shall also make party defendant to such action any authority, subdivision, instrumentality, agency or municipal corporation of the State of Georgia, or any other lessee which has contracted with the county building authority for the use of any building, structure, or facilities for which bonds have been issued and sought to be validated, and such authority, subdivision, instrumentality, agency, or lessee shall be required to show cause, if any, why such contract or contracts and the terms and conditions thereof should not be inquired into by the court and the validity of the terms thereof determined, and the contract adjudicated as security for the payment of any such bonds of the authority. The bonds when validated and the judgment of validation shall be final and conclusive with respect to such bonds and against the authority issuing the same, and any authority, subdivision, instrumentality, agency, municipal corporation, or other lessee contracting with the county building authority.

(1980 Ga. Laws (Act No. 1373), page 4488, § 23; 1982 Ga. Laws (Act No. 1379), page 5031, § 9)