Sec. 13. The following provisions apply when an issuer negotiates a sale of obligations and a statute does not specify a time within which to contest the validity of the obligations or the sale of the obligations:
(1) No action to contest the validity of the obligations may be brought after the fifteenth day following the adoption of the resolution authorizing the sale of the obligations.
(2) No action to contest the validity of the sale of the obligations may be brought after the fifth day following the sale.
As added by P.L.2-1989, SEC.11.
Structure Indiana Code
Title 5. State and Local Administration
Article 1. Bonds and Other Obligations
Chapter 14. Miscellaneous Provisions
5-1-14-1. Bonds, Notes, or Warrants Not Subject to Maximum Interest Rate Limitations
5-1-14-1.5. Obligations Defined
5-1-14-2. Provisions for Payment of Bonds, Notes, or Warrants Before Maturity Date
5-1-14-3. Maintenance of Federal Tax Exclusion From Gross Income for Interest on Bonds
5-1-14-4. Pledge Made by Issuer Binding; Lien
5-1-14-5. Bond Anticipation Notes; Issuance
5-1-14-7. Application of Section; Stadium; Lease Rental Tax
5-1-14-8. Money Withheld by Auditor as Not Creating Debt for Constitutional Purposes
5-1-14-9. Rights of Owners of Obligations Not to Be Impaired
5-1-14-10. Maximum Term or Repayment Period of Obligations; Continuation of Payments
5-1-14-11. Payment of Fees and Charges Authorized
5-1-14-12. Refunding Obligations
5-1-14-12.5. Purchase and Issuance of Obligations on Terms Reasonable to Issuer
5-1-14-13. Contesting Validity of Obligations
5-1-14-14. Loans, Expenditures, and Issuance of Bonds for Economic Development
5-1-14-15. Bonds and Obligations to Fund Pension Benefits