No legal or equitable action brought with respect to any legislative acts or proceedings in connection with the authorization or issuance of securities by a public entity shall be commenced more than thirty days after the authorization of such securities.
Source: L. 2000: Entire part added, p. 137, § 1, effective August 2. L. 2004: Entire section amended, p. 949, § 3, effective May 21.
ANNOTATION
Limited scope of time bar. This section's time bar applies, by its terms, only to actions brought in connection with the authorization or issuance of securities and does not apply to challenges to the creation of a special district. Landmark Towers Ass'n v. UMB Bank, 2018 COA 100, 436 P.3d 1139.
The time bar in this section is an affirmative defense. Landmark Towers Ass'n v. UMB Bank, 2016 COA 61, 436 P.3d 1126, rev'd on other grounds, 2017 CO 107, 408 P.3d 836.
An affirmative defense is waived unless it is presented at trial. Although defendant cited this section in its answer and in the trial management order, it did not raise the issue at trial. Because defendant did not cite this section at any point during trial or argue at trial that plaintiff's claims were barred by this section, the affirmative defense was waived. Landmark Towers Ass'n v. UMB Bank, 2016 COA 61, 436 P.3d 1126, rev'd on other grounds, 2017 CO 107, 408 P.3d 836.