Remedies of Revenue Bondholders

  1. Law
  2. Tennessee Code
  3. Public Finances
  4. Local Government Public Obligations Act of 1986
  5. Revenue Bonds
  6. Remedies of Revenue Bondholders

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Subject to any contractual limitations binding upon the holders of any issue of revenue bonds, or trustee therefor, including, but not limited to, the restriction of the exercise of any remedy to a specified proportion or percentage of such holders, any holder of revenue bonds, or trustee therefor, shall have the right and power, for the equal benefit and protection of all holders of revenue bonds similarly situated and, in addition to all other rights:

  1. By mandamus or other suit, action or proceeding at law or in equity, to enforce such rights against the local government and its governing body and any of its officers, agents and employees and to require and compel the local government or the governing body or its officers, agents or employees to perform and carry out its and their duties and obligations under this part and part 1 of this chapter and its and their covenants and agreements with revenue bondholders;
  2. By action or suit in equity, to require the local government and the governing body thereof to account as if they were the trustee of an express trust;
  3. By action or by suit in equity, to enjoin any acts or things which may be unlawful or in violation of the rights of the revenue bondholders; and
  4. To bring suit upon the revenue bonds.


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