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Current as of May 05, 2022 | Updated by FindLaw Staff
(1) The resolutions and proceedings authorizing the issuance and confirming sale of bonds under this chapter are submitted to the attorney general for examination.
(2) When the resolutions and proceedings have been examined and the bonds certified as legal obligations by the attorney general, the bonds are incontestable in any court in the state unless suit is brought within 30 days from the date of the approval.
(3) A bond authorized under this section shall contain a recital on its face in substantially the following form: “This bond is one of a series of bonds which were certified as legal obligations by the attorney general of the state of Utah on ․․․․․․․․․.”
(4) Bonds authorized, issued, and sold under resolutions and proceedings approved by the attorney general are prima facie valid and binding obligations according to their terms.
(5) The only defense which may be offered in any suit instituted after the 30-day period has expired is forgery, fraud, or violation of the Constitution.
Cite this article: FindLaw.com - Utah Code Title 53B. State System of Higher Education § 53B-21-106. Examination and certification of bonds by attorney general--Recital of certification--Incontestability of bonds - last updated May 05, 2022 | https://codes.findlaw.com/ut/title-53b-state-system-of-higher-education/ut-code-sect-53b-21-106/
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