§ 59. Suit on bonds. In any suit, action or proceeding upon any bond
of the Utica transit authority or the security therefor, any such bond
reciting in substance that it has been issued by such an authority to
aid in financing a municipal project to provide omnibus transportation
facilities pursuant to the procedure required in this article shall be
conclusively deemed to have been issued for a municipal project of such
character and pursuant to such procedure.