1. (a) An action to contest the validity of any bonds issued under this article may not be brought after the fifteenth day following:

   1. (1) the first publication of notice of the sale or intent to sell the bonds under IC 21-32-3 if the bonds are sold at public sale; or
   2. (2) the publication one (1) time in newspapers described in IC 21-32-3-3 of notice of execution and delivery of the contract of sale for the bonds if the bonds are sold at negotiated sale.

2. (b) The board of trustees of a state educational institution shall publish notice under subsection (a)(2) if it sells bonds at negotiated sale within thirty (30) days of execution of the contract of sale for the bonds.

   [Pre-2007 Higher Education Recodification Citations: 20-12-6-7(f); 20-12-6-7(g).]

As added by P.L.2-2007, SEC.275.