Bonds of the authority shall be confined and validated in accordance with the procedure
of Article 3 of Chapter 82 of Title 36 of the O.C.G.A., the "Revenue Bond Law." The
petition for validation shall also make party defendant to such action the State of
Georgia or any municipality, county, authority, political subdivision, or instrumentality
of the State of Georgia or the United States government or any department or agency
of the United States government, if subject to being sued and if consenting to same,
which has contracted with the authority for the services and facilities of the project
for which bonds are to be issued and sought to be validated, and the state or such
municipality, county, authority, political subdivision, or instrumentality shall be
required to show cause, if any, why such contract or contracts and the terms and conditions
thereof should not be inquired into by the court and the validity of the terms thereof
be determined and the contract or contracts adjudicated as part of the basis of the
security for the payment of any such bonds of the authority. The bonds when validated
and the judgment of validation shall be final and conclusive with respect to such
bonds and the security for the payment thereof and interest thereon and against the
authority issuing the same, the state and any municipality, county, authority, political
subdivision, or instrumentality, if a party to the validation proceedings, contracting
with the authority.
(Acts 1996, p. 4216, § 15)
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