2013 South Carolina Code of Laws
Title 6 - Local Government - Provisions Applicable to Special Purpose Districts and Other Political Subdivisions
CHAPTER 17 - REVENUE BOND REFINANCING ACT OF 1937
SECTION 6-17-250. Rights and remedies of holders of bonds.
Subject to any contractual limitations binding upon the holders of any issue of refunding bonds, or trustee therefor, including, but not limited to, the restriction of the exercise of any remedy to a specified proportion or percentage of such holders, any holder of refunding bonds, or trustee therefor, may for the equal benefit and protection of all holders of refunding bonds similarly situated:
(1) By mandamus or other suit, action or proceeding at law or in equity enforce his rights against the municipality, its governing body and any of its officers, agents and employees and require and compel such municipality, governing body or officer, agent or employee to perform and carry out its or his duties and obligations under this chapter and its or his covenants and agreements with the bondholders;
(2) By action or suit in equity require the municipality and the governing body thereof to account as if they were the trustee of an express trust;
(3) By action or suit in equity enjoin any acts or things which may be unlawful or in violation of the rights of the bondholders; or
(4) Bring suit upon the refunding bonds.
HISTORY: 1962 Code Section 59-675; 1952 Code Section 59-675; 1942 Code Section 9300; 1937 (40) 313.
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