42-388f. Same; suits by bondholders; receivers; duties.
111 words·~1 min read·
/ks/chapter-42/42-388fA research copy — for the controlling text, always check the official state or federal source. Not legal advice.
42-388f. Same; suits by bondholders; receivers; duties. Any holder or holders of ⅕ of the amount of such outstanding bonds, or any coupons of such ⅕, if there is a default in the payment thereof, by an appropriate suit in court, may enforce the statutory mortgage lien and compel the performance of the duties of the board of commissioners and any other officers of such district, and any court having jurisdiction of such a suit may appoint a receiver to administer the property, including the works owned by the district, with power to charge and collect rates for the services and facilities furnished by the district adequate for all such purposes.