§ 17C-1-504. Contesting the legality of resolution authorizing bonds -- Time limit -- Presumption.

(1) Any person may contest the legality of the resolution authorizing issuance of the bonds or any provisions for the security and payment of the bonds for a period of 30 days after:

(a) publication of the resolution authorizing the bonds; or

(b) publication of a notice of bonds containing substantially the items required under Subsection 11-14-316(2).

(2) After the 30-day period under Subsection (1), no lawsuit or other proceeding may be brought contesting the regularity, formality, or legality of the bonds for any reason.

(3) In a lawsuit or other proceeding involving the question of whether a bond issued under this part is valid or enforceable or involving the security for a bond, if a bond recites that the agency issued the bond in connection with an urban renewal, economic development, or community development project:

(a) the bond shall be conclusively presumed to have been issued for that purpose; and

(b) the project area plan and project area shall be conclusively presumed to have been properly formed, adopted, planned, located, and carried out in accordance with this title.

Renumbered and Amended by Chapter 359, 2006 General Session