Proceedings required; irregularities not to affect validity of bonds.
Memphis Charter, art. 54, § 562
in effectSec. 562. - Proceedings required; irregularities not to affect validity of bonds.
No proceedings on the part of said municipality in any respects to the issuance of said bonds shall be necessary, except such proceedings as are required by this Act. The failure in the existence or performance in any of the conditions precedent to the issuance of said bonds shall not affect the validity of said bonds, but the same shall be in all respects valid and binding. The levy by the municipality of any ad valorem tax shall not prevent the collection of the assessment levied for the improvement district for which the bonds were issued; but said assessment shall remain and be collected, the proceeds thereof to be devoted to reimbursing the municipal treasury for the amount paid out under said ad valorem tax.
(Priv. Acts 1923, ch. 426, § 10)
Source: City of Memphis, Code of Ordinances and Charter and Related Laws (Municode Library, library.municode.com)URL: https://library.municode.com/tn/memphis/codes/charter?nodeId=PTICHRELA_ART54STIMUNDIPLNOFRFO_S562PRREIRNOAFVABOFetched: 10/28/2026