Sec. 325.089. MANDAMUS BY BONDHOLDERS. In addition to all other rights and remedies provided by law, if the district defaults in the payment of principal, interest, or redemption price on its bonds when due or if it fails to make payments into any fund or funds created in the orders or resolutions authorizing the issuance of the bonds or defaults in the observation or performance of any other covenants, conditions, or obligations set forth in the orders or resolutions authorizing the issuance of its bonds, the owners of any of the bonds are entitled to a writ of mandamus issued by a court of competent jurisdiction compelling and requiring the district and its officials to observe and perform the covenants, obligations, or conditions prescribed in the orders or resolutions authorizing the issuance of the district's bonds.
Added by Acts 1989, 71st Leg., ch. 437, Sec. 1, eff. Aug. 28, 1989.
Section: Previous 325.065 325.066 325.067 325.068 325.069 325.070 325.081 325.082 325.083 325.084 325.085 325.086 325.087 325.088 325.089Last modified: September 28, 2016