§ 38-46. Validation of bonds.  


Latest version.
  • Bonds of the authority shall be confirmed and validated in accordance with the procedure of the Revenue Certificate Law of 1937 (O.C.G.A. § 36-82-60 et seq.), as amended. The petition for validation shall also make party defendant to such action any municipality, county, authority, subdivision or instrumentality of the State of Georgia which has contracted with the authority for the services and facilities of the water system for which bonds are to be issued and sought to be validated and such municipality, county, authority, subdivision or instrumentality shall be required to show cause, if any, why such contract or contracts and the terms and conditions thereof should not be inquired into by the court and the validity of the terms thereof be determined and the contract or contracts adjudicated as security for the payment of any such bonds of the authority. The bonds, when validated, and the judgment of validation shall be final and conclusive with respect to such bonds, against the authority issuing the same, and any municipality, county, authority, subdivision or instrumentality contracting with said Cobb County-Marietta Water Authority.

(1951 Ga. Laws (Act No. 319), page 497, § 21)