§ 22-29-306 — Rights of creditors after change of organization; enforcement

(a) No change of organization, or any term or condition
thereof, shall impair the rights of any bondholder or other
creditor of a district. Every bondholder or other creditor may
enforce all the rights of the bondholder or other creditor in
the same manner and to the same extent as if the change of
organization, term or condition had not been made. Any of these
rights may also be enforced against agencies, and their
respective officers, as follows:
(i) Upon enlargement of the territory, against the
district to or from which the territory is enlarged;
(ii) Upon dissolution of a district, against the
successor city, county or district or against a city, county or
district receiving distribution of all or any part of the
remaining assets of the dissolved district;
(iii) Upon merger of two (2) or more districts,
against the surviving district;
(iv) Upon consolidation of two (2) or more districts,
against the successor district.