Indiana § 13-26-10-19 - Rights of revenue bondholders

§ 13-26-10-19. Rights of revenue bondholders

Sec. 19. (a) The holder of revenue bonds or attached coupons and the trustee, if any, except to the extent the rights given may be restricted by the ordinance authorizing issuance of the bonds or by the trust indenture, may, by civil action, protect and enforce rights granted:

(1) by this article or IC 13-3-2 (before its repeal); or

(2) under the ordinance or trust indenture;

to be performed by the district issuing the bonds or by the board or any officer, including the making and collecting of reasonable and sufficient charges and rates for services provided by the works.

(b) If there is failure to pay the principal or interest on any of the revenue bonds on the date named for payment, and upon application by a bondholder or a trustee, any court having jurisdiction to appoint receivers shall appoint a receiver to administer the works on behalf of the district and the bondholders or trustee. A receiver may do the following:

(1) Charge and collect rates sufficient to provide for the payment of the expenses of operation, repair, and maintenance.

(2) Pay any revenue bonds and interest outstanding.

(3) Apply the revenues in conformity with this article and the ordinance or trust indenture.

[Pre-1996 Recodification Citation: 13-3-2-21.]

As added by P.L.1-1996, SEC.16.

IC 13-26-11Chapter 11. Rates and Charges

13-26-11-1Waterworks 13-26-11-2Sewage works; campgrounds; youth camps 13-26-11-2.1Campground rates; appeal to utility regulatory commission 13-26-11-3Solid waste disposal 13-26-11-4Services of water, sewer, or solid waste disposal 13-26-11-5Billing and collection 13-26-11-6Sewage works beneficial to lots, land, or buildings 13-26-11-7Connection charges; liens 13-26-11-8Rates and charges 13-26-11-9Just and equitable rates and charges; rates and charges unlawful if too low; when initial rates and charges are prima facie just and equitable; district authority examination 13-26-11-10Revenue of works 13-26-11-11Public hearing 13-26-11-12Notice 13-26-11-13Ordinance establishing rates and charges; schedule; notice; objections; hearing; appeal 13-26-11-14Extension of rates and charges to cover additional premises; changes or readjustments 13-26-11-15Regional sewage district authority; membership; notice of rate increase; objecting petition; public hearing; order and appeal