Sec. 54.518. MANDAMUS BY BONDHOLDERS. In addition to all other rights and remedies provided by the laws of the state, in the event the district defaults in the payment of principal, interest, or redemption price on its bonds when due, or in the event it fails to make payments into any fund or funds created in the order or resolution authorizing the issuance of the bonds, or defaults in the observation or performance of any other covenants, conditions, or obligations set forth in the resolution or order authorizing the issuance of its bonds, the owners of any of the bonds shall be 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 order or resolution authorizing the issuance of the district's bonds.
Added by Acts 1971, 62nd Leg., p. 799, ch. 84, Sec. 1.
Structure Texas Statutes
Title 4 - General Law Districts
Chapter 54 - Municipal Utility Districts
Subchapter F. Issuance of Bonds
Section 54.501. Issuance of Bonds
Section 54.503. Manner of Repayment of Bonds
Section 54.504. Additional Security for Bonds
Section 54.505. Election on Tax Bonds
Section 54.507. Notice of Bond Election
Section 54.510. Provisions of Bonds
Section 54.512. Sale or Exchange of Bonds
Section 54.514. Refunding Bonds
Section 54.5161. Review of Bond Projects by Counties
Section 54.518. Mandamus by Bondholders
Section 54.520. Cancellation of Unsold Bonds
Section 54.521. Use of Bond Proceeds to Pay Certain Interest