§ 14-33-20-37 — Remedies

Indiana § 14-33-20-37

• Jurisdiction: Indiana
• Art. 33: CONSERVANCY DISTRICTS
• Ch. 20: Water Supply Systems

Text

(a) A remedy conferred by this chapter
upon a holder or trustee for a holder of bonds, notes, or other evidences
of indebtedness payable from revenues:
(1) is in addition to every other remedy; and
(2) may be exercised without exhausting and without regard to
any other remedy conferred by:
(A) this chapter; or
(B) any other statute.
(b) A waiver of a default or breach of duty or contract, whether by
a holder or a trustee for a holder of bonds, notes, or other evidences of
indebtedness payable from revenues, does not do any of the following:
(1) Extend to or affect a subsequent default or breach of duty or
contract.
(2) Impair any rights or remedies.
(c) A delay or an omission of a holder or a trustee for a holder of
bonds, notes, or other evidences of indebtedness does not do any of the
following:
(1) Extend to or affect a subsequent default or breach of duty or
contract.
(2) Impair any rights or remedies.
(d) A delay or an omission of a holder or a trustee for a holder of
bonds, notes, or other evidences of indebtedness in exercising a right
or power accruing upon default:
(1) does not impair a right or power; and
(2) may not be construed to be a waiver of the default or
acquiescence in the default.
(e) Every substantive right and every remedy conferred upon the
holders of bonds, notes, or other evidences of indebtedness payable
from revenues may be enforced and exercised periodically and as often
as is expedient. If action to enforce a right or exercise a remedy:
(1) is brought and then discontinued; or
(2) is determined adversely to the holder or trustee;
the board and the holder or trustee shall be restored to their former
positions as if an action had not been brought.
[Pre-1995 Recodification Citation: 13-3-4-14(b).]

Legislative History

As added by P.L.1-1995, SEC.26.