159-75. Judgment validating issue; costs of the action.
A final decree of the General Court of Justice validating funding or refunding bonds or the financing or refinancing agreement shall be conclusive as to the validity of the bonds or the agreement.
The costs of any action brought under G.S. 159-74 shall be borne by the issuing unit, including a reasonable attorney's fee for the attorney assigned by the court to defend the interests of the citizens and taxpayers in general. (1931, c. 186, ss. 6, 7; 1935, c. 290, s. 3; 1971, c. 780, s. 1; 1973, c. 494, s. 12.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 159 - Local Government Finance
Article 4 - Local Government Bond Act.
§ 159-43 - Short title; legislative intent.
§ 159-45 - All general obligation bonds subject to Local Government Bond Act.
§ 159-46 - Faith and credit pledged.
§ 159-47 - Additional security for utility or public service enterprise bonds.
§ 159-48 - For what purposes bonds may be issued.
§ 159-49 - When a vote of the people is required.
§ 159-52 - Approval of application by Commission.
§ 159-53 - Order approving or disapproving an application.
§ 159-55 - Sworn statement of debt; debt limitation.
§ 159-55.1 - Statement of disclosures necessary for bond authorization.
§ 159-56 - Publication of bond order as introduced.
§ 159-56.1 - Certain proceedings ratified notwithstanding provisions of § 159-56.
§ 159-57 - Hearing; passage of bond order.
§ 159-58 - Publication of bond order as adopted.
§ 159-59 - Limitation of action to set aside order.
§ 159-60 - Petition for referendum on bond issue.
§ 159-61 - Bond referenda; majority required; notice of referendum; form of ballot; canvass.
§ 159-62 - Limitation on actions contesting validity of bond referenda.
§ 159-63 - Repeal of bond orders.
§ 159-64 - Within what time bonds may be issued.
§ 159-65 - Resolution fixing the details of the bonds.
§ 159-66 - Validation of former proceedings and actions.
§ 159-67 - Procedures if a county votes to relocate the county seat.
§ 159-68 - Certain provisions not applicable to refunding bonds.
§ 159-73 - Financing or refinancing agreements.
§ 159-74 - Test cases testing validity of funding or refunding bonds.
§ 159-75 - Judgment validating issue; costs of the action.
§ 159-76 - Validation of bonds and notes issued before March 26, 1931.