90-4-1217. Presumptions of validity of bonds. (1) Bonds issued under this part bearing the signatures of officers in office on the date of the signing of the bonds are valid and binding obligations even if, before bond delivery and payment, the persons whose signatures appear on the bonds are no longer officers of the governmental body issuing the bonds.
(2) The validity of the bonds is not dependent on or affected by the validity or regularity of any proceedings relating to the acquisition, purchase, construction, reconstruction, improvement, or extension of the project for which the bonds are issued.
(3) The resolution authorizing the bonds may provide that the bonds must contain a recital that they are issued pursuant to this part and that the recital is conclusive evidence of the bonds' validity and of the regularity of the bonds' issuance.
History: En. Sec. 12, Ch. 378, L. 2007.
Structure Montana Code Annotated
Title 90. Planning, Research, and Development
Chapter 4. Energy Development and Conservation
Part 12. Montana Clean Renewable Energy Bond Act
90-4-1203. Authority to acquire, construct, and operate projects
90-4-1204. Cooperation among governmental bodies
90-4-1205. Authority to issue revenue bonds
90-4-1206. Determination of cost
90-4-1207. Nature of revenue bonds
90-4-1208. Authority to issue other bonds
90-4-1209. Use of revenue from project
90-4-1210. Covenants in resolution of authorizing issuance of bonds
90-4-1211. through 90-4-1215 reserved
90-4-1217. Presumptions of validity of bonds
90-4-1218. Liens arising from bonds or contracts -- mortgages
90-4-1220. Interim receipts or certificates
90-4-1221. Requirements prior to project construction
90-4-1222. Prohibition on construction, ownership, and operation of powerlines