California · Military and Veterans Code - MVC

MVC §481.4: The validity of the authorization and issuance of any revenue bonds shall not be dependent on or affected by the validity or regularity of any proceedings relating to the expenditure of the proceeds t

What this law says, in plain English

Revenue bonds remain valid regardless of whether the procedures for spending their proceeds were conducted properly or irregularly.

Read the full statutory text

The validity of the authorization and issuance of any revenue bonds shall not be dependent on or affected by the validity or regularity of any proceedings relating to the expenditure of the proceeds thereof or the validity of any purchase contracts or payments received thereon pledged to pay revenue bonds.

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