(a) All bonds of the [coliseum] authority shall be confirmed and validated in the Bibb
County Superior Court in accordance with the procedure of the Revenue Bond Law of
Georgia (O.C.G.A. § 36-82-60 et seq.). The petition for validation shall be brought
against said authority and, in the event the payments to be made by any city, town,
municipality, or county under a contract entered into between the authority and such
political subdivision are pledged as security for the payment of the revenue bonds
sought to be validated, such political subdivision or subdivisions shall also be made
parties defendant, and the defendants shall be required to show cause, if any exists,
why such contract or contracts and the terms and conditions thereof should not be
adjudicated to be in all respects valid and binding upon such subdivision or subdivisions.
It shall be incumbent upon such subdivision or subdivisions to defend against adjudication
of the validity and binding effect of such contract or contracts or be forever bound
thereby. Notice of such proceedings shall be included in the notice of the validation
hearing required to be issued and published by the clerk of the Superior Court of
Bibb County in which court such validation proceeding shall be initiated. Any resident
of the State of Georgia may intervene in the validation proceedings at or before the
time set for the validation hearing and may assert any ground of objection to the
validity and binding effect of such bonds and the security therefor and of such contract
or contracts on his own behalf and on behalf of all citizens and residents of the
State of Georgia. In the event no bill of exceptions shall be filed within 20 days
from the date of the judgment of validation or, if filed and the judgment shall be
affirmed by the proper appellate court of this state, the judgment of the Bibb County
Superior Court so confirming and validating the validity and binding effect of such
contract or contracts and of such bonds and the security therefor shall be forever
conclusive upon the issue of the validity and binding effect of such contracts and
bonds and the security therefor and upon the issue of the validity and constitutionality
of this and any other act pertaining to such contracts and bonds and the security
therefor against the authority issuing the same and against the parties to such contracts
and against all residents of the State of Georgia.
(b) Any action or proceeding to contest the validity or binding effect of any such revenue
bonds or resolution or trust instrument pertinent thereto or any contracts made for
the purpose of providing the payment of such bond as aforesaid must be commenced and
filed prior to the conclusion of the validation hearing notice of which shall have
been given as provided by law. After the expiration of such period of limitation no
right of action or defense founded upon the invalidity of such bonds, resolution,
trust instrument, or contracts shall be asserted nor shall the validity and binding
effect of such bonds, resolution, trust instrument, or contracts be opened to question
or attack in any court upon any ground whatever, except in an action or proceeding
commenced and filed prior to the conclusion of such validation hearing.
(1963 Ga. Laws (Act No. 86), page 2250, § 17)
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