§ 29-4-117 — Additional remedies

(1) Any city has power by its trust indenture,
mortgage, lease, or other contract relating to a housing project to confer upon any
obligee holding or representing a specified amount in bonds, leases, or other
obligations, the right, in the event of default, as defined in such instrument:

(a) By suit, action, or proceeding in any court of competent jurisdiction to
obtain the appointment of a receiver of any housing project of the city or any part
thereof. If such receiver is appointed, he may enter and take possession of such
project or any part thereof, operate and maintain the same, collect and receive all
fees, rents, revenues, or other charges arising therefrom in the same manner as the
city or the authority might do, and shall keep all such moneys in a separate account
and apply the same in accordance with the obligations of the city as the court
directs.

(b) By suit, action, or proceeding in any court of competent jurisdiction to
require the city and the officers thereof to account as if they were the trustees of
an express trust.

Legislative History

Source: L. 35: p. 519, � 18. CSA: C. 82, � 21. CRS 53: � 69-2-17. C.R.S. 1963: � 69-2-17.