An authority shall have power by its resolution, trust indenture, mortgage, lease or other contract to confer upon any obligee holding or representing a specified amount in bonds, or holding a lease, the right (in addition to all rights that may otherwise be conferred), upon the happening of an event of default as defined in such resolution or instrument, by suit, action, or proceeding in any court of competent jurisdiction:
To cause possession of any housing project or any part thereof to be surrendered to any such obligee.
To obtain the appointment of a receiver of any housing project of said authority or any part thereof and of the rents and profits therefrom. If such receiver be appointed, he may enter and take possession of such housing project or any part thereof and operate and maintain same, and collect and receive all fees, rents, revenues, or other charges thereafter arising therefrom, and shall keep such moneys in a separate account or accounts and apply the same in accordance with the obligations of said authority as the court shall direct.
To require said authority and the commissioners thereof to account as if it and they were the trustees of an express trust.
Structure Mississippi Code
Chapter 33 - Housing and Housing Authorities
Article 1 - Housing Authorities
§ 43-33-3. Finding and declaration of necessity
§ 43-33-5. Housing authorities created
§ 43-33-7. Appointment, qualifications and tenure of commissioners
§ 43-33-11. Powers of authority
§ 43-33-13. Operation not for profit
§ 43-33-15. Rentals and tenant selection
§ 43-33-17. Cooperation of authorities
§ 43-33-21. Planning, zoning and building laws
§ 43-33-25. Form and sale of bonds
§ 43-33-27. Provisions of bonds, trust indentures, and mortgages
§ 43-33-28. Issuance of leased housing revenue refunding bonds by certain housing authorities
§ 43-33-29. Remedies of an obligee of authority
§ 43-33-31. Additional remedies conferable by authority
§ 43-33-33. Exemption of property from execution sale
§ 43-33-35. Aid from federal government
§ 43-33-37. Tax exemption and payments in lieu of taxes
§ 43-33-39. Housing bonds to be legal investments, legal security and negotiable
§ 43-33-43. Cooperation in undertaking housing projects
§ 43-33-45. Agreements as to payments by housing authority
§ 43-33-47. Advances to housing authority
§ 43-33-49. Procedure for exercising powers