14-1715. Bonds; performance of agreement; cause of action; execution, when.
153 words·~1 min read·
/ne/chapter-14/14-1715A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The holder of any bonds or coupons appertaining to such bonds or coupons issued by the authority, unless the trust agreement vests the right of action solely in the trustee, then the trustee, may by civil action or proceedings, protect and enforce any and all rights under the trust agreement covering the issuance of such bonds, and may enforce and compel the performance of all duties required by the Parking Authority Law or trust agreement to be performed by the authority or any officer of the authority and the court having jurisdiction of the proceedings may, if necessary for the protection of the bondholders, appoint a receiver or other administrator to operate the facilities until such time as the obligations to the bondholders have been paid in full.
No execution shall be levied upon, or sale made, of any properties belonging to the authority which are necessary for the operation of the facilities.