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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>86781</law_id><section_number>15.2-5126</section_number><catch_line>Time for contesting validity of proposed bond issue; when bonds presumed valid</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><structure><unit label="title" level="1" order_by="1" identifier="15.2">Counties, Cities and Towns</unit><unit label="subtitle" level="2" order_by="1" identifier="IV">Other Governmental Entities</unit><unit label="chapter" level="3" order_by="1" identifier="51">Virginia Water and Waste Authorities Act</unit><unit label="article" level="4" order_by="1" identifier="4">Financing</unit></structure><text>
						<section><p>For a period of thirty days after the date of the filing with the <span class="dictionary">circuit</span> <span class="dictionary">court</span> having <span class="dictionary">jurisdiction</span> over any of the <span class="dictionary">political subdivisions</span> which are members of the <span class="dictionary">authority</span> a certified copy of the initial resolution of the <span class="dictionary">authority</span> authorizing the issuance of <span class="dictionary">bonds</span>, any person in interest may contest the validity of the <span class="dictionary">bonds</span>, the rates, fees and other charges for the services and facilities furnished by, for the use of, or in connection with, any <span class="dictionary">water or waste system</span> or, for authorities created under Article 6 (&#xA7;&#xA0;<a class="law" title="Localities may consider petitions for creation of authority" href="/15.2-5152/">15.2-5152</a> et seq.) of this chapter, such other facilities which may be provided by the <span class="dictionary">authority</span> under &#xA7;&#xA0;<a class="law" title="Additional powers of community development authorities" href="/15.2-5158/">15.2-5158</a>, the pledge of the revenues of any <span class="dictionary">water or waste system</span>, or any combination of any thereof or, for authorities created under Article 6 of this chapter, such other facilities which may be provided by the <span class="dictionary">authority</span> under &#xA7;&#xA0;<a class="law" title="Additional powers of community development authorities" href="/15.2-5158/">15.2-5158</a>, any provisions which may be recited in any resolution, trust agreement, indenture or other instrument authorizing the issuance of <span class="dictionary">bonds</span>, or any matter contained in, provided for or done or to be done pursuant to the foregoing. If such contest is not given within the thirty-day period, the <span class="dictionary">authority</span> to <span class="dictionary">issue</span> the <span class="dictionary">bonds</span>, the validity of the pledge of revenues necessary to pay the <span class="dictionary">bonds</span>, the validity of any other provision contained in the resolution, trust agreement, indenture or other instrument, and all proceedings in connection with the authorization and the issuance of the <span class="dictionary">bonds</span> shall be conclusively presumed to have been legally taken and no <span class="dictionary">court</span> shall have <span class="dictionary">authority</span> to inquire into such matters and no such contest shall thereafter be instituted.
		Upon the delivery of any <span class="dictionary">bonds</span> reciting that they are issued pursuant to this chapter and a resolution or resolutions adopted under this chapter, the <span class="dictionary">bonds</span> shall be conclusively presumed to be fully authorized by all the <span class="dictionary">laws</span> of the Commonwealth and to have been sold, executed and delivered by the <span class="dictionary">authority</span> in conformity with such <span class="dictionary">laws</span>, and the validity of the <span class="dictionary">bonds</span> shall not be questioned by a <span class="dictionary">party</span> <span class="dictionary">plaintiff</span>, a <span class="dictionary">party</span> <span class="dictionary">defendant</span>, the <span class="dictionary">authority</span>, or any other interested <span class="dictionary">party</span> in any <span class="dictionary">court</span>, anything in this chapter or in any other <span class="dictionary">statutes</span> to the contrary notwithstanding.</p></section></text><history>1997, c. 587.</history><metadata></metadata></law>
