Page:United States Statutes at Large Volume 95.djvu/1521

 PUBLIC LAW 97-105—DEC. 23, 1981

95 STAT. 1495

"(1) any recital or statement of fact contained in such act or in the preamble or title of such act shall be deemed to be true for the purpose of determining the validity of the bonds authorized by such act, and the District and all others interested shall be estopped from denying any such recital or statement of fact; and "(2) such act, and all proceedings in connection with the authorization of the issuance of such bonds including any election held on the question of issuing such bonds, shall be deemed to have been duly and regularly taken, passed, and done by the District, in compliance with this Act and all other applicable laws, for the purpose of determining the validity of such act and proceedings; and no court shall have jurisdiction in any suit, action, or proceeding questioning the validity of such act or proceedings except in a suit, action, or proceeding commenced before the end of such twenty-day period. "(b) At the end of the twenty-day period beginning on the date of the first publication pursuant to section 463(a) of the notice that an Ante, p. 1494. act authorizing the issuance of general obligation bonds has taken effect, no court shall have jurisdiction in any suit, action, or proceeding questioning the validity of any general obligation bond issued pursuant to such act if^ "(1) such general obligation bond was purchased in good faith and for fair value; and "(2) such general obligation bond contains substantially the following statement which shall bind the District of Columbia: I t is hereby certified and recited that all conditions, acts, and things required by the District of Columbia Self-Government and Governmental Reorganization Act and other applicable laws to exist, to have D.C. Code 1-121 happened, and to have been performed precedent to and in the ^°^issuance of this bond exist, have happened, and have been performed and that the issue of bonds, of which this is one, together with all other indebtedness of the District of Columbia, is within every debt and other limit prescribed by law.'". SEC. 8. Section 465 of the District of Columbia Self-Government and Governmental Reorganization Act (D.C. Code, sec. 47-245) is amended to read as follows: "ISSUANCE OF GENERAL OBLIGATION BONDS

"SEC. 465. (a) After an act of the Council authorizing the issuance of general obligation bonds under section 461(a) takes effect, the Mayor D.C. Code may issue such general obligation bonds as authorized by such act of ^7-241. the Council. An issue of general obligation bonds may be all or any part of the aggregate principal amount of bonds authorized by such act. "(b) The principal amount of the general obligation bonds of each issue shall be payable in annual installments beginning not more than three years after the date of such bonds and ending not more than thirty years after such date. "(c) The general obligation bonds of each issue shall be executed by the manual or facsimile signature of such officials as may be designated to sign such bonds by the act of the Council authorizing the issuance of the bonds, except that at least one such signature shall be manual. Coupons attached to the bonds shall be authenticated by the facsimile signature of the Mayor unless the Council provides otherwise.".

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