Art. 6070f. VALIDATION OF STATE PARK IMPROVEMENT BONDS, AGREEMENTS, ACTIONS AND PROCEEDINGS; INCONTESTABILITY    

The State Park Improvement Bonds authorized by resolution of the State Parks Board, adopted on January 12, 1955, which resolution was entitled, "A resolution authorizing the issuance of $25,000,000 State Park Improvement Bonds of the State Parks Board of the State of Texas for the purpose of making improvements to state parks; confirming the sale of part of such bonds; providing for the payment of principal thereof and interest thereon; providing for the security of such bonds, and entering into certain covenants and agreements in the above connection," and all provisions, covenants and agreements in said resolution contained, and all actions and proceedings of said Board relating thereto, are hereby validated, ratified, approved and confirmed, and said State Park Improvement Bonds when issued and delivered pursuant to said proceedings, shall be valid and legally binding and enforceable obligations against the revenues so encumbered and shall be valid and legally binding and enforceable obligations of the State Parks Board in accordance with their terms and after said delivery said bonds shall be incontestable; and any changes or amendments hereafter made to said resolution or proceedings relating to or affecting the date or maturity dates of said bonds, the interest coupon rates, not to exceed five per cent (5%) per annum, or the order, time or manner of the application of the revenues securing such bonds, shall not impair or limit the validation thereof as is in this Act provided; and it is hereby found and determined that the issuance of said State Park Improvement Bonds in accordance with the aforementioned resolution will not create or constitute a debt or obligation of the State of Texas within the meaning of any applicable constitutional limitation or restriction.