250.170. Action by bondholder against city or district for neglect of duty. - Missouri Statutes

Action by bondholder against city or district for neglect of duty.

250.170. 1. The holder of any bond authorized pursuant tothis chapter or of any coupon representing interest accruedthereon may, by a civil action either at law or in equity, bymandamus, injunction or otherwise, compel any city, town orvillage or sewer district, which may have authorized bonds underthis chapter or the officials thereof to perform all dutiesimposed upon such city, town or village or sewer district or uponsuch officials by the provisions of the ordinance authorizingsuch bonds or otherwise imposed by law, including the continuedoperation of the sewerage system or of the combined waterworksand sewerage system, the fixing and collecting of sufficientrates and charges for the services thereof, the segregation andallocation and disposition of the revenues derived from suchsystem, the payment of any bonds chargeable to the revenues ofsuch system or the interest thereon and the performance of anyvalid and reasonable covenant set out in the ordinanceauthorizing any such bonds.

2. Such suit or action at law or in equity shall lieregardless of whether or not any bond or the interest thereonshall at the time of the filing of such suit be in default in theevent that such city, town or village or sewer district or anyofficial thereof shall have neglected or failed to perform anymaterial duty imposed by law or by any valid and reasonablecovenant set out in the ordinance authorizing any outstandingbonds pursuant to this chapter.

(L. 1951 p. 638 § 16)