Colorado § 31-35-409 - Remedies of bondholders.

§ 31-35-409. Remedies of bondholders.

(1) Subject to any contractual limitations binding upon the holders of any issue of bonds or the 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 bonds or trustee therefor has the right and power, for the equal benefit and protection of all holders of bonds similarly situated:

(a) To enforce his rights against the municipality and its governing body and any of its officers, agents, and employees by an action in the nature of mandamus or other suit, action, or proceeding at law or in equity and to require and compel such municipalities or such governing body or any such officers, agents, or employees to perform and carry out their duties and obligations under this part 4 and their covenants and agreements with the bondholders;

(b) To require the municipality and the governing body thereof to account as if they were the trustee of an express trust by action or suit in equity;

(c) To enjoin any acts or things which may be unlawful or in violation of the rights of the bondholders by action or suit in equity; and

(d) To bring suit upon the bonds.

(2) No right or remedy conferred by this part 4 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 part 4 or by any other law.

Source: L. 75: Entire title R&RE, p. 1257, § 1, effective July 1.

Editor's note: This section is similar to former § 31-35-409 as it existed prior to 1975.