7-7-4430. Presumptions of validity of bonds. (1) Said bonds bearing the signatures of officers in office on the date of the signing thereof shall be valid and binding obligations, notwithstanding that before the delivery thereof and payment therefor, any or all the persons whose signatures appear thereon shall have ceased to be officers of the municipality issuing the same.
(2) The validity of said bonds shall not be dependent on or affected by the validity or regularity of any proceedings relating to the acquisition, purchase, construction, reconstruction, improvement, betterment, or extension of the undertaking for which said bonds are issued.
(3) The resolution authorizing said bonds may provide that the bonds shall contain a recital that they are issued pursuant to this part, which recital shall be conclusive evidence of their validity and of the regularity of their issuance.
History: En. Sec. 6, Ch. 126, L. 1939; R.C.M. 1947, 11-2406.
Structure Montana Code Annotated
Part 44. Municipal Revenue Bonds
7-7-4403. Interpretation of part
7-7-4404. Authority to acquire, construct, maintain, and operate various undertakings
7-7-4406. Cooperation among municipalities
7-7-4407. Role of state agencies
7-7-4408. through 7-7-4420 reserved
7-7-4421. Authority to issue revenue bonds
7-7-4422. Determination of cost
7-7-4423. Nature of revenue bonds
7-7-4424. Undertakings to be self-supporting
7-7-4425. Use of revenue from undertaking
7-7-4426. Authorization for undertaking and issuance of bonds
7-7-4428. Covenants in resolution authorizing issuance of bonds
7-7-4430. Presumptions of validity of bonds
7-7-4431. Liens arising from bonds
7-7-4432. Details relating to revenue bonds