5-12-27. Contract with bondholders--Bondholders' remedies.
102 words·~1 min read·
/sd/title-5/chapter-5-12/5-12-27A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The provisions of this chapter and of any resolution or proceeding authorizing the issuance of bonds shall constitute a contract with the holders of such bonds. The provisions thereof shall be enforceable either in law or in equity, by suit, action, mandamus, or other proceeding in any court of competent jurisdiction to enforce and compel the performance of any duties required by this chapter or any resolution or proceeding authorizing the issuance of such bonds, including the establishment of sufficient charges, fees, or rentals and the application of the income from a project under this chapter, as provided in § 5-12-23 .