15.2-5159 - Validation of creation of authorities; bonds issued. - Virginia Statutes

§ 15.2-5159. Validation of creation of authorities; bonds issued.

All proceedings heretofore taken with respect to the creation of a communitydevelopment authority by any locality pursuant to this chapter are herebypresumed to be valid and all such authorities are presumed to be legallycreated. All proceedings heretofore taken by any community developmentauthority with respect to the authorization, issuance, sale, execution,delivery, and repayment of bonds by any community development authority arepresumed to be valid, and any such bonds so issued are presumed valid andlegal obligations of such community development authority, enforceable inaccordance with law.

(2009, c. 473.)