                                 CODE OF VIRGINIA

TIME FOR CONTESTING VALIDITY OF PROPOSED BOND ISSUE; WHEN BONDS PRESUMED VALID
(§ 15.2-5126)

For a period of thirty days after the date of the filing with the circuit court
having jurisdiction over any of the political subdivisions which are members of
the authority a certified copy of the initial resolution of the authority
authorizing the issuance of bonds, any person in interest may contest the
validity of the bonds, the rates, fees and other charges for the services and
facilities furnished by, for the use of, or in connection with, any water or
waste system or, for authorities created under Article 6 (§ 15.2-5152 et seq.)
of this chapter, such other facilities which may be provided by the authority
under § 15.2-5158, the pledge of the revenues of any water or waste system, 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 authority under
§ 15.2-5158, any provisions which may be recited in any resolution, trust
agreement, indenture or other instrument authorizing the issuance of bonds, 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
authority to issue the bonds, the validity of the pledge of revenues necessary
to pay the bonds, 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 bonds shall be
conclusively presumed to have been legally taken and no court shall have
authority to inquire into such matters and no such contest shall thereafter be
instituted.
		Upon the delivery of any bonds reciting that they are issued pursuant to this
chapter and a resolution or resolutions adopted under this chapter, the bonds
shall be conclusively presumed to be fully authorized by all the laws of the
Commonwealth and to have been sold, executed and delivered by the authority in
conformity with such laws, and the validity of the bonds shall not be questioned
by a party plaintiff, a party defendant, the authority, or any other interested
party in any court, anything in this chapter or in any other statutes to the
contrary notwithstanding.

HISTORY: 1997, c. 587.