Section 120.119 - Validation of bonds or notes; contesting validity. - Michigan Statutes

HERTEL-LAW-T. STOPCZYNSKI PORT AUTHORITY ACT (EXCERPT)
Act 639 of 1978

120.119 Validation of bonds or notes; contesting validity.

Sec. 19.

Bonds or notes issued under this act by an authority are validated. An authority acting under this act or any constituent unit, including the county, shall not contest the validity of bonds or notes issued under this act or any contract which provides the security therefor, after the bonds are sold and delivered and the authority has received the consideration therefor.

History: 1978, Act 639, Imd. Eff. Jan. 11, 1979
Compiler's Notes: See Compiler's note to MCL 120.130.