HRS §39A-352
Bond validity despite officer changes
Special purpose revenue bonds are valid even if the officers who signed them leave office before the bonds are delivered and paid for. The bonds must state they are issued under this part, and that statement proves they are valid and properly issued.
financial institutionsstate agencies
The statute, as written — Validity of special purpose revenue bonds
The special purpose revenue bonds bearing the signature or facsimile signature of officers in office on the date of the signing thereof shall be valid and sufficient for all purposes, notwithstanding that before the delivery thereof and payment therefor, any or all the persons whose signatures appear thereon shall have ceased to be officers of the department. Special purpose revenue bonds shall contain a recital that they are issued pursuant to this part, which recital shall be conclusive evidence of their validity and of the regularity of their issuance.
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