Any action to contest the validity of bonds to be issued under this chapter may not be brought after the fifteenth day following:

1. (1) the receipt of bids for the bonds, if the bonds are sold at public sale; or

2. (2) the publication one (1) time in a newspaper of general circulation published in the county of notice of the execution and delivery of the contract for the sale of bonds;

   whichever occurs first.

As added by P.L.84-1987, SEC.14.