§ 21-17-430 — Receivership

Wyoming § 21-17-430

• Jurisdiction: Wyoming
• Title 21: Education
• Ch. 17: UNIVERSITY OF WYOMING
• Art. 4: CAPITAL CONSTRUCTION PROJECTS

Text

(a) If a resolution of the board authorizing or providing
for the issuance of any securities of any series or any other
proceedings appertaining thereto contains a provision authorized
by W.S. 21-17-427(a)(xxviii) and provides in substance that any
trustee appointed pursuant to the subsection has the powers
provided by that subsection, then the trustee, whether or not
all of the bonds or other securities of series have been
declared due and payable, is entitled as of right to the
appointment of a receiver of the facilities appertaining
thereto.
(b) Any receiver appointed as permitted by W.S.
21-17-427(a)(xxviii) may enter upon and take possession of the
facilities and property appertaining thereto, and, subject to
any pledge or contract with the holders of the securities, shall
take possession of all monies and other property derived from or
applicable to the acquisition, operation, maintenance or
improvement of the facilities and proceed with the acquisition,
operation, maintenance or improvement which the board is under
any obligation to do, and operate, maintain, equip and improve
the facilities, and, fix, charge, collect, enforce and receive
the service charges and all revenues thereafter arising subject
to any pledge thereof or contract with the holders of the
securities relating thereto and perform the public duties and
carry out the contracts and obligations of the board in the same
manner as the board itself might do and under the direction of
the court.