91.740. Rights and powers of bondholders--shall be cumulative. - Missouri Statutes

Rights and powers of bondholders--shall be cumulative.

91.740. 1. Subject to any contractual limitations bindingupon the holders of any issue of bonds, or trustee therefor,including but not limited to the restriction of the exercise ofany remedy to a specified proportion or percentage of suchholders, any holder of bonds, or trustee therefor, shall have theright and power, for the equal benefit and protection of allholders of bonds similarly situated

(1) By mandamus or other suit, action or proceeding at lawor in equity to enforce his rights against the municipality andits governing body and any of its officers, agents and employeesand to require and compel such municipality or such governingbody or any such officers, agents or employees to perform andcarry out its and their duties and obligations under sections91.620 to 91.770 and its and their covenants and agreements withbondholders;

(2) By action or suit in equity to require the municipalityand the governing body thereof to account as if they were thetrustee of an express trust;

(3) By action or suit in equity to enjoin any acts or thingswhich may be unlawful or in violation of the rights of thebondholders;

(4) Bring suit upon the bonds.

2. No right or remedy conferred by sections 91.620 to 91.770upon any holder of bonds, or any trustee therefor, is intended tobe exclusive of any other right or remedy, but each such right orremedy is cumulative and in addition to every other right orremedy and may be exercised without exhausting and without regardto any other remedy conferred by sections 91.620 to 91.770 or byany other law.

(L. 1941 p. 493 § 12)