11-14-316 - Publication of notice, resolution, or other proceeding -- Contest.
11-14-316. Publication of notice, resolution, or other proceeding -- Contest.
(1) The governing body of any local political subdivision may provide for the publicationof any resolution or other proceeding adopted under this chapter:
(a) in a newspaper having general circulation in the local political subdivision; and
(b) as required in Section 45-1-101.
(2) When publication involves a resolution or other proceeding providing for theissuance of bonds, the governing body may, in lieu of publishing the entire resolution or otherproceeding, publish a notice of bonds to be issued, titled as such, containing:
(a) the name of the issuer;
(b) the purpose of the issue;
(c) the type of bonds and the maximum principal amount which may be issued;
(d) the maximum number of years over which the bonds may mature;
(e) the maximum interest rate which the bonds may bear, if any;
(f) the maximum discount from par, expressed as a percentage of principal amount, atwhich the bonds may be sold; and
(g) the times and place where a copy of the resolution or other proceeding may beexamined, which shall be:
(i) at an office of the issuer;
(ii) identified in the notice;
(iii) during regular business hours of the issuer as described in the notice; and
(iv) for a period of at least 30 days after the publication of the notice.
(3) For a period of 30 days after the publication, any person in interest may contest:
(a) the legality of such resolution or proceeding;
(b) any bonds which may be authorized by such resolution or proceeding; or
(c) any provisions made for the security and payment of the bonds.
(4) A person shall contest the matters set forth in Subsection (3) by filing a verifiedwritten complaint in the district court of the county in which he resides within the 30-day period.
(5) After the 30-day period, no person may contest the regularity, formality, or legality ofthe resolution or proceeding for any reason.
Amended by Chapter 388, 2009 General Session