RCW 39.42.100
Evidences of indebtedness—Defects not to affect validity—Copy of resolution authorizing issuance filed—Action to contest before delivery.
Bonds, notes, or other obligations issued and sold by the state of Washington pursuant to and in conformity with this chapter shall not be invalid for any irregularity or defect in the proceedings of the issuance or sale thereof, except as provided in this paragraph, and shall be incontestable in the hands of a bona fide purchaser or holder thereof. Whenever the state finance committee determines to issue bonds, notes or other evidences of indebtedness, it shall file with the treasurer a certified copy of the resolution authorizing their issuance at least thirty days prior to delivery to the purchaser of such bonds, notes, of other evidences of indebtedness. At any time prior to delivery, any person in interest shall have the right to institute an appropriate action or proceeding to contest the validity of the authorized indebtedness, the pledge of revenues for the payment of principal and interest on such indebtedness, the validity of the collection and disposition of revenue necessary to pay the principal and interest on such indebtedness, the expenditure of the proceeds derived from the sale of the evidences of indebtedness for the purposes specified by law, and the validity of all other provisions and proceedings in connection with the authorization and issuance of the evidences of indebtedness. If such action or proceeding shall not have been instituted prior to delivery, then the validity of the evidences of indebtedness shall be conclusively presumed and no court shall have authority to inquire into such matters.
[ 1971 ex.s. c 184 § 10.]
Structure Revised Code of Washington
Title 39 - Public Contracts and Indebtedness
Chapter 39.42 - State Bonds, Notes, and Other Evidences of Indebtedness.
39.42.010 - Scope of application.
39.42.020 - Evidences of indebtedness—Issuance—Signature.
39.42.030 - Evidences of indebtedness—Issuance—State finance committee, duties and powers.
39.42.040 - Disposition of proceeds from sale of bonds.
39.42.050 - Anticipation notes—Issued, when—Payment of principal and interest.
39.42.070 - Computation of general state revenues—Filing of certificate—Estimate of debt capacity.
39.42.080 - Obligations allowable under debt limitation.
39.42.090 - Certificates of indebtedness—Issued, when—Retirement.
39.42.120 - Excess earnings account—Payments to United States treasury.
39.42.130 - Aggregate state debt not to exceed debt limitation—State finance committee duties.