§ 250.414.

NEW BONDS-ISSUED WHEN PROCEEDINGS IRREGULAR

When any court of competent jurisdiction, or the Board of its own volition, determines that any contract purported to have been made, or any proceedings, steps or actions purported to have been taken, or any bond or bonds issued, or a levy of assessment made, under this Subdivision, is or are void, invalid, or unenforceable for any reason, or any court for any cause enjoins the issuance of payment of any bonds proposed to be or which have been issued under this Subdivision, or the payment of any pledge or contribution, or the levy of any annual benefit assessment, or any other action or determination which might or will affect the prompt and orderly payment of any such bonds or the interest thereon as they shall accrue, said court or the Board shall also determine that new bonds shall be issued in the place thereof. In such event, the Board shall cause a declaration to be filed which shall state the amount of any work performed, improvements made, acquisitions had, and the costs thereof and expenses incidental thereto, and the estimated cost of any future work, improvements, acquisition and incidental costs and expenses. Jurisdiction therefor shall be had after notice published and posted and hearing had as provided in Subdivision 4 of Subarticle V of this Procedure Code; provided, that there shall be no bar to said proceedings by reason of a majority or other protest against them.

History

(Added by Ord. 225-81, App. 5/5/81)

Download

  • Plain Text
  • JSON

Comments