Indiana § 14-33-20-30 Application for appointment of receiver of water facilities

Indiana Statutes

§ 14-33-20-30 — Application for appointment of receiver of water facilities

Indiana·Art. 33 CONSERVANCY DISTRICTS·Ch. 20 Water Supply Systems

If:

(1)the:

(A)board defaults in the payment of the principal or interest on any of the bonds, notes, or other evidences of indebtedness payable from revenues after the bonds, notes, or other evidences of indebtedness have become due, whether at maturity or upon call for redemption; and

(B)default continues for a period of thirty (30) days; or

(2)the board or the board's officers, agents, or employees:

(A)fail or refuse to comply with this chapter; or

(B)default in an agreement made with the holders of the bonds, notes, or other evidences of indebtedness; any holder or a trustee of a holder may apply to the circuit court, superior court, or probate court with jurisdiction in the county in which the district is primarily situated for the appointment of a receiver of the water faciliti

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If:
(1) the:
(A) board defaults in the payment of the principal or interest on
any of the bonds, notes, or other evidences of indebtedness
payable from revenues after the bonds, notes, or other
evidences of indebtedness have become due, whether at
maturity or upon call for redemption; and
(B) default continues for a period of thirty (30) days; or
(2) the board or the board's officers, agents, or employees:
(A) fail or refuse to comply with this chapter; or
(B) default in an agreement made with the holders of the bonds,
notes, or other evidences of indebtedness;
any holder or a trustee of a holder may apply to the circuit court,
superior court, or probate court with jurisdiction in the county in which
the district is primarily situated for the appointment of a receiver of the
water facilities, whether or not the holder or trustee is seeking or has
sought to enforce any other right or remedy in connection with the
bonds, notes, or other evidences of indebtedness.
[Pre-1995 Recodification Citation: 13-3-4-13(a)
part.]

Indiana § 14-33-20-30 (Application for appointment of receiver of water facilities) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.