§ 15-9-216 — Rights and powers of bondholders

(a) Subject to any contractual limitations binding upon
the holders of any issue of bonds or trustee therefor, including
but not limited to the restriction of the exercise of any remedy
to a specified proportion or percentage of the holders, any
holder of bonds or trustee therefor has the right and power, for
the equal benefit and protection of all holders of bonds
similarly situated:
(i) By an action in the nature of mandamus or other
suit, action or proceeding at law or in equity to enforce his
rights against the municipality and to require and compel the
governing body to perform its duties and obligations under this
article and its covenants and agreements with the bondholders;
(ii) By action or suit in equity to require the
governing body to account as if they were the trustees of an
express trust;
(iii) By action or suit in equity to enjoin any acts
or things which may be unlawful or in violation of the rights of
the bondholders;
(iv) To bring suit upon the bonds.
(b) No right or remedy conferred by this article upon any
holder of bonds or any trustee therefor is intended to be
exclusive of any other right or remedy, but each such right or
remedy is cumulative and in addition to every other right or
remedy and may be exercised without exhausting and without
regard to any other remedy conferred by this article or by any
other law.