(1) Any person may contest the legality of the resolution authorizing issuance of the bond or any provisions for the security and payment of the bond for a period of 30 days after: (a) publication of the resolution authorizing the bond; or (b) publication of a notice of bond containing substantially the items required under Subsection 11-14-316(2).
(a) publication of the resolution authorizing the bond; or
(b) publication of a notice of bond containing substantially the items required under Subsection 11-14-316(2).
(2) After the 30-day period described in Subsection (1), no person may bring a lawsuit or other proceeding contesting the regularity, formality, or legality of the bond 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 project area development: (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 implemented in accordance with this title.
(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 implemented in accordance with this title.
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