§ 31-25-814 — Remedies of bondholders

Colorado § 31-25-814

• Jurisdiction: Colorado
• Title 31: 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 has the right and power, for the equal benefit and protection of all holders
of bonds similarly situated:

(a) By an action in the nature of mandamus or other suit, action, or
proceeding at law or in equity to enforce his rights against the municipality and to
require and compel the governing body to perform its duties and obligations under
this part 8 and its covenants and agreements with the bondholders;

(b) By action or suit in equity to require the governing body to account as if
they were the trustees 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;

(d) To bring suit upon the bonds.

(2) No right or remedy conferred by this part 8 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 8 or by any other law.

Legislative History

Source: L. 76: Entire part added, p. 708, � 1, effective April 26. L. 77: (1)(a) and (1)(b) amended, p. 1478, � 11, effective June 19.