Title 42, Chapter 3, Section 23
( 42-3-23)
Bonds of the authority shall be confirmed and validated in
accordance with the procedure of Article 3 of Chapter 82 of Title
36. The petition for validation shall also make any authority,
subdivision, instrumentality, or agency of this 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 a party defendant to the action. Such authority,
subdivision, instrumentality, or agency shall be required to show
cause, if any, why the contract or contracts and the terms and
conditions thereof should not be inquired into by the court, the
validity of the terms thereof determined, and the contract
adjudicated as security for the payment of any bonds of the
authority. The bonds, when validated, and the judgment of validation
shall be final and conclusive with respect to the bonds and against
the authority issuing the same, as well as against any authority,
subdivision, instrumentality, or agency contracting with the
authority. |