77-5-417 - Rights and remedies of bondholders.
§ 77-5-417. Rights and remedies of bondholders.
Any holder or holders of bonds, including a trustee or trustees for holders of such bonds, shall have the right, in addition to all other rights:
(a) By mandamus or other suit, action or proceedings in any court of competent jurisdiction to enforce his or their rights against the municipality, the governing body thereof, the board of public utilities hereafter provided for in this article, and any other proper officer, agent or employee of any of them, including, but without limitation, the right to require the municipality, the governing body, the said board, and any proper officer, agent or employee of any of them, to assess, levy and collect taxes, and to fix and collect rates and charges adequate to carry out any agreement as to, or pledge of taxes or electric plant revenues, and to require the municipality, the governing body thereof, the said board and any officer, agent or employee of any of them to carry out any other covenants and agreements and to perform its and their duties under this article.
(b) By action or suit in equity to enjoin any act or things which may be unlawful or a violation of the rights of such holder of bonds.
Sources: Codes, 1942, § 5534; Laws, 1936, ch. 185.