HRS §47-25
County bonds are valid and can be traded freely
This section makes county bonds and related documents valid and tradable like other negotiable paper. It says the bonds are not invalid because of minor mistakes in how they were issued or sold. The bonds must include a statement that they were issued under state law, which proves they are valid.
buyerscounties
The statute, as written — Bonds negotiable, incontestable
This chapter, without reference to any other law, shall be full authority to issue, exchange, or sell bonds of the county, and the bonds and all interim receipts or certificates shall have all the qualities of negotiable paper under state law. The bonds shall not be invalid for any irregularity or defect in the proceedings for the issue, sale or exchange thereof. The bonds shall contain a recital that they have been authorized and issued pursuant to the laws of the State, which recital shall be conclusive evidence of their validity and the regularity of their issuance. No proceedings in respect of the issuance of any bonds shall be necessary except such proceedings as are required by this chapter.
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