2017 Nebraska Revised Statutes
Chapter 14 - CITIES OF THE METROPOLITAN CLASS
14-1715 Bonds; performance of agreement; cause of action; execution, when.
14-1715. Bonds; performance of agreement; cause of action; execution, when.
The holder of any bonds or coupons appertaining thereto, unless the trust agreement vests the right of action solely in the trustee, then the trustee, may by civil action or proceedings, protect and enforce any and all rights under the trust agreement covering the issuance of said bonds, and may enforce and compel the performance of all duties required by sections 14-1701 to 14-1725 or trust agreement to be performed by the authority or any officer thereof and the court having jurisdiction of the proceedings may, if necessary for the protection of the bondholders, appoint a receiver or other administrator to operate the facilities until such time as the obligations to the bondholders have been paid in full. No execution shall be levied upon, or sale had, of any properties belonging to the authority which are necessary for the operation of the facilities.
Source
- Laws 1955, c. 22, ยง 15, p. 110.
