§ 30-20-409 — Remedies of bondholders

Colorado § 30-20-409

• Jurisdiction: Colorado
• Title 30: Government
• Art.: Public Improvements

Text

(1) Subject to any contractual
limitations binding upon the holders of any issue of bonds, or trustee therefor,
including but not limited to the restriction of the exercise of any remedy to a
specified proportion or percentage of such holders, any holder of bonds, or trustee
therefor, shall have the right and power, for the equal benefit and protection of all
holders of bonds similarly situated:

(a) By mandamus or other suit, action, or proceeding at law or in equity to
enforce his rights against the county and its board and any of its officers, agents,
and employees and to require and compel such county or such board or any such
officers, agents, or employees to perform and carry out their duties and obligations
under this part 4 and their covenants and agreements with the bondholders;

(b) By action or suit in equity to require the county and the board thereof to
account as if they were the trustee of an express trust;

(c) By action or suit in equity to enjoin any acts or things which may be
unlawful or in violation of the rights of the bondholders; and

(d) To bring suit upon the bonds.

(2) No right or remedy conferred by this part 4 upon any holder of bonds or
any trustee therefor is intended to be exclusive of any other right or remedy, but
each such right or remedy is cumulative and in addition to every other right or
remedy and may be exercised without exhausting and without regard to any other
remedy conferred by this part 4 or by any other law.

Legislative History

Source: L. 71: p. 361, � 1. C.R.S. 1963: � 36-29-9.