40:37B-25 - Failing copy of bond resolution; publication of notice - New Jersey Statutes

40:37B-25.  Failing copy of bond resolution;  publication of notice
    An authority shall cause a copy of any bond resolution adopted by it to be filed for public inspection in its office and in the office of the clerk of the  governing body of the county and may thereupon cause to be published at least  once in a newspaper published or circulating in the county a notice stating the  fact and date of such adoption and the places where such bond resolution has  been so filed for public inspection and also the date of the first publication  of such notice and also stating that any action or proceeding of any kind or  nature in any court questioning the validity or proper authorization of bonds  provided for by the bond resolution, or the validity of any covenants,  agreements or contracts provided for by the bond resolution shall be commenced  within 20 days after the first publication of such notice.  If any such notice  shall at any time be published and if no action or proceeding questioning the  validity or proper authorization of bonds provided for by the bond resolution referred to in said notice, or the validity of any covenants, agreements or  contracts provided for by said bond resolution shall be commenced or instituted  within 20 days after the first publication of said notice, then all residents  and taxpayers and owners of property in the county and all other persons shall  be forever barred and foreclosed from instituting or commencing any action or proceeding in any court, or from pleading any defense to any action or proceeding, questioning the validity or proper authorization of such bonds, or  the validity of such covenants, agreements or contracts, and said bonds, covenants, agreements and contracts shall be conclusively deemed to be valid and binding obligations in accordance with their terms and tenor.

     L.1967, c. 136, s. 25, eff. June 28, 1967.