Nebraska Revised Statute 71-15,116

Chapter 71 Section 15,116

71-15,116.

Obligations; validity and enforceability.

(1) In case any of the representatives of the housing agency whose signatures appear on any obligations cease to be commissioners, officers, or agents of the issuing agency before the delivery of such obligations, the signatures shall nevertheless be valid and sufficient for all purposes, the same as if the representatives had remained in office until delivery. Any law to the contrary notwithstanding, obligations issued pursuant to the Nebraska Housing Agency Act are fully negotiable unless otherwise provided in the resolution authorizing the same.

(2) No suit, action, or proceeding involving the validity or enforceability of any obligation of a housing agency may be commenced after delivery of the obligation. In any suit, action, or proceeding involving the validity or enforceability of any obligation of a housing agency or the security therefor, any such obligation reciting in substance that it has been issued by the housing agency to aid in financing a development or activity furthering the purposes of the act is conclusively deemed to have been issued in accordance with the act, and any development financed thereby and with respect to which such recitation is made shall be conclusively deemed to have been planned, located, and constructed in accordance with the act.