N.Y. Local Finance Law § 80.00: Bond resolution, or note resolution or certificate, may contain estoppel clause

§ 80.00 Bond resolution, or note resolution or certificate, may

contain estoppel clause. The resolution of a finance board authorizing

the issuance of bonds or notes, or the certificate of a chief fiscal

officer authorizing the issuance of notes, may, in the discretion of the

finance board or such chief fiscal officer, as the case may be, contain

a statement that the validity of such bonds or notes or any bond

anticipation notes issued in anticipation of the sale of such bonds may

be contested only if:

1. Such obligations are authorized for an object or purpose for which

the municipality, school district or district corporation is not

authorized to expend money, or

2. The provisions of law which should be complied with at the date of

the publication of such resolution or summary thereof, or certificate,

as the case may be, are not substantially complied with, and an action,

suit or proceeding contesting such validity, is commenced within twenty

days after the date of such publication, or

3. Such obligations are authorized in violation of the provisions of

the constitution.