Sec. 5. Upon the adoption of a resolution authorizing the issuance of bonds or notes, any action or proceeding in any court to set aside the resolution authorizing the issuance of bonds or notes of the bank under this article or to obtain any relief upon the ground that the resolution is invalid must be filed within fifteen (15) days following the adoption of the resolution. After the expiration of this fifteen (15) day period, no right of action shall be asserted nor shall the validity of the resolution or any of its provisions be open to question in any court or agency upon any grounds whatsoever.
As added by P.L.42-1985, SEC.1. Amended by P.L.2-1989, SEC.12.
Structure Indiana Code
Title 5. State and Local Administration
Article 1.4. Local Public Improvement Bond Banks
Chapter 4. Issuance of Obligations
5-1.4-4-1. Bonds or Notes; Purposes; General Obligation of Bank; Additional Security
5-1.4-4-2. Nature of Bonds or Notes; State Pledge and Agreement
5-1.4-4-3. Negotiability of Bonds and Notes
5-1.4-4-4. Authorization; Issuance in Series; Requirements; Consent of City or State Agency
5-1.4-4-5. Resolution Authorizing Issuance; Adoption; Action to Set Aside Resolution
5-1.4-4-6. Public or Private Sale; Notice
5-1.4-4-7. Issuance of Notes; Payment of Principal or Interest
5-1.4-4-8. Trust Agreement as Security; Provisions of Trust Agreement or Resolution; Expenses