Validity of Authorization and Issuance of Bonds and

Incurring of Other Indebtedness. The validity of the authorization and issuance of or incurrence by the Authority of any bonds is not dependent on nor affected in any way by: (a) proceedings taken by the Authority for the acquisition, construction or improvement of the system or any part thereof; (b) any contracts made by the Authority in connection with the acquisition, construction or improvement of the system or any part thereof; or (c) the failure to complete the system or any part thereof for which bonds are authorized to be issued. SOURCE: Added by P.L. 13-087:1 (Oct. 31, 1975) as GC § 14054. Codified as 12 GCA § 10205. Repealed and reenacted by P.L. 34-070:2 (Dec. 7, 2017). 2017 NOTE: This section was originally enacted as Bonds: Maximum Amount; Purpose and Term of, which was reenacted by P.L. 34-070:2 (Dec. 7, 2017) as 12 GCA § 10207, Board to Declare Purpose and Maximum Amount of Bonds to be Issued.