Find Legal Information

97.180 Bondholders' lien -- Action to enforce.

Download pdf

97.180 Bondholders' lien -- Action to enforce. There shall be a statutory mortgage lien upon the recreational project and necessary <br>appurtenances acquired through the issuance of bonds, in favor of the holders of the <br>bonds and the holders of the coupons. The project and appurtenances shall remain subject <br>to the lien until the payment in full of the principal and interest of the bonds. Any holder <br>of the bonds or coupons may, by action at law or in equity, protect and enforce the lien <br>and compel performance of all duties required by KRS 97.100 to 97.240, including the <br>making and collecting of sufficient fees and the segregation and application of the <br>revenue. Effective: October 1, 1942 <br>History: Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 2741p-19.