Pennsylvania Statutes Title 53 P.S. Municipal and Quasi-Municipal Corporations § 12720.303. Validity of bonds;  limitation on actions

(a) Presumption.--Any bond reciting in substance that it has been issued by the authority to accomplish the public purposes of this act shall be conclusively deemed in any suit, action or proceeding involving the validity or enforceability of such bonds or security therefor to have been issued for such purposes.

(b) Filing.--The authority may cause a copy of any resolution authorizing the issuance of bonds 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 city to be assisted and may thereupon cause to be published in a newspaper of general circulation published or circulating in the city a notice stating:

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 resolution referred to in such notice, or the validity of any covenants, agreements or contract provided by such resolution, shall be commenced within 10 days after the publication of such notice, then all residents, taxpayers and owners of property in the city and all other persons whatsoever shall be forever barred and foreclosed from instituting or commencing any action or proceeding in any court, or pleading any defense to any action or proceedings, questioning the validity or proper authorization of such bonds, or the validity of any 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.

(c) Estoppel.--After issuance of bonds, all such bonds shall be conclusively presumed to be fully authorized and issued by all the laws of this Commonwealth, and any person shall be estopped from questioning their sale, execution or delivery by the authority.