21-400 - Right of holders on default. - Virginia Statutes

§ 21-400. Right of holders on default.

If any installment of principal or interest represented by the bonds shallnot be paid at the time and in the manner when the same shall become due andpayable, and such default shall continue for a period of six months, theholder or holders of such bond or bonds upon which default has been madeshall have a right of action against the board of viewers wherein the circuitcourt may issue a writ of mandamus against the drainage project, itsofficers, including the county treasurer, or treasurers, directing thelevying of a tax or special assessment as herein provided, and the collectionof the same, in such sum as may be necessary to meet any unpaid installmentof principal and interest and costs of action, and such other remedies arehereby vested in the holder or holders of such bond or bonds in default asmay be authorized by law. The right of action is vested in the holder orholders of such bond or bonds upon which default has been made, authorizingthem to institute suit against any officer on his official bond for failureto perform any duty imposed by the provisions of this chapter. The officialbond of any county treasurer shall be liable for the faithful performance ofthe duties herein assigned him. Such official bonds may be increased by thegoverning body of any county or the board or party having such authority.

(Code 1919, § 1774; 1920, p. 613; 1926, p. 624; 1954, c. 642.)