O.C.G.A.

O.C.G.A. § 50-9-46 (2019)

Validation; parties defendant to action; judgment final and conclusive

✓ O.C.G.A. — 2019 edition (Public.Resource.Org Release 73)
Code text and O.C.G.A. statutory annotations on this page reflect the 2019 Official Code of Georgia Annotated (Public.Resource.Org Release 73, 2019-08-21; public domain per Georgia v. Public.Resource.Org, 2020). The Syfert case-law annotations in Notes of Decisions, below, are current.
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Bonds of the authority shall be confirmed and validated in accordance with the procedure of Article 3 of Chapter 82 of Title 36, the “Revenue Bond Law.” The petition for validation shall also make party defendant to such action any authority, subdivision, instrumentality, or agency of the state which has contracted with the authority for the use of any building, structure, or facilities for which bonds have been issued and sought to be validated; and such authority, subdivision, instrumentality, or agency shall be required to show cause, if any, why such contract or contracts and the terms and conditions thereof should not be inquired into by the court and the validity of the terms thereof determined and the contract adjudicated as security for the payment of any such bonds of the authority. The bonds when validated and the judgment of validation shall be final and conclusive with respect to such bonds and against the authority issuing the same and any authority, subdivision, instrumentality, or agency contracting with the authority.

History

Ga. L. 1951, p. 699, § 23; Ga. L. 1982, p. 3, § 50.

Annotations

RESEARCH REFERENCES Am. Jur. 2d. 64 Am. Jur. 2d, Public Securities and Obligations, §§ 274 et seq.

C.J.S. 11 C.J.S., Bonds, § 1 et seq.. 81A C.J.S., States, §§ 453, 454.