61-35-44. Court may direct receiver to surrender possession of project.
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/nd/title-61/chapter-61-35-water-districts/61-35-44·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
After payment of all that is due upon the bonds and any other obligations that are a charge, lien, or encumbrance on the revenues of the project under any of the terms of any covenants or agreements with bondholders, and after all defaults have been made good, the court, after notice and hearing as it deems proper, may direct the receiver to surrender the possession of the project to the district. The holders of the bonds have the same right to secure the appointment of a receiver upon any subsequent default as is provided in this chapter in the case of an original default.