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(A) Before any bonds of the city are issued, the City Commission shall investigate and determine the legality of the proceedings. The ordinance authorizing the bonds may direct that they shall contain the following recital.
“It is certified that this bond is authorized by and is issued in conformity with the requirements of the Constitution and statutes of the State of Florida.”
(B) The recital shall be an authorized declaration by the governing authority of the municipality and shall import that there is constitutional and statutory authority for incurring the debts and issuing the bonds; that all the proceedings therefor are regular; that all acts, conditions, and things required to exist, happen, and be performed precedent to and in the issuance of the bond have existed, happened, and been performed in due time, form, and manner, as required by law; that the amount of the bond, together with all other indebtedness, does not exceed any limit or limits prescribed by the constitution and statutes of this state. If any bond be issued containing the recital, it shall be conclusively presumed that the recital construed according the import hereby declared is true, and the municipality shall not be permitted to question the validity or legality of the obligation in any court in any action or proceeding.
(Special Acts, Ch. 57-1754, § 164; Ch. 63-1826, § 15) ('58 Code, § 45.100)