§ 5-1-4-20 — Enforcement of rights and duties

Indiana § 5-1-4-20

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 1: BONDS AND OTHER OBLIGATIONS
• Ch. 4: Hospital Bonding Authorities

Text

Enforcement of Rights and Duties. Any holder
of bonds issued under the provisions of this chapter or any of the
coupons appertaining thereto, and the trustee under any trust
agreement, except to the extent the rights herein given may be
restricted by the authorizing resolution or trust agreement, may, either
at law or in equity, by suit, action, mandamus or other proceedings,
protect and enforce any and all rights under the laws of the state or
granted hereunder or under such trust agreement, or the resolution
authorizing the issuance of such bonds, and may enforce and compel
the performance of all duties required by this chapter or by such trust
agreement or resolution to be performed by an Authority or by any
officer, employee or agent thereof, including the fixing, charging and
collecting of rates, rents, fees and charges herein authorized and
required by the provisions of such resolution or trust agreement to be
fixed, established and collected.
Such rights include the right to compel the performance of all duties
of an Authority required by this chapter or the bond resolution or trust
agreement; to enjoin unlawful activities; and in the event of default
with respect to the payment of any principal of, premium, if any, and
interest on any bond or in the performance of any convenant or
agreement on the part of an Authority in the bond resolution, to apply
to a court having jurisdiction of the cause to appoint a receiver to
administer and operate the project, the revenues of which are pledged
to the payment of principal of, premium, if any, and interest on such
bonds, (with full power to pay and to provide for payment of, principal
of, premium, if any, and interest on such bonds), and with such powers,
subject to the direction of the court, as are permitted by law and are
accorded receivers in general equity cases, excluding any power to
pledge additional revenues of an Authority to the payment of such
principal, premium and interest; and to foreclose the mortgage on the
project in the same manner as for real estate of private corporations.
Formerly: Acts 1971, P.L.41, SEC.1; Acts 1972, P.L.10,
SEC.1.