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Minnesota Legislature

Office of the Revisor of Statutes

469.163 BONDHOLDERS' RIGHTS AND REMEDIES.
Subject to any contractual limitations binding upon the holders of any issue of revenue
bonds, or a trustee therefor, including the restriction of the exercise of any remedy to a specified
proportion or percentage of the holders, any holder of bonds, or any trustee therefor, for the equal
benefit and protection of all bondholders similarly situated, may:
(1) by suit, action, or proceeding at law or in equity, enforce the bondholder's or trustee's
rights against the municipality or redevelopment agency and its governing body and any of its
officers, agents, and employees, and may require and compel the municipality, redevelopment
agency, or governing body, or any officers, agents, or employees to perform and carry out its
and their duties and obligations under sections 469.152 to 469.165 and its and their covenants
and agreements with bondholders;
(2) by action require the municipality or redevelopment agency and the governing body
thereof to account as if they were the trustees of an express trust;
(3) by action enjoin any acts or things which may be unlawful or in violation of the rights
of the bondholders;
(4) bring suit upon the bonds;
(5) foreclose any mortgage or lien given under the authority of sections 469.152 to 469.165,
and cause the property standing as security to be sold under any proceedings permitted by law
or equity; and
(6) exercise any right or remedy conferred by sections 469.152 to 469.165 without exhausting
and without regard to any other right or remedy conferred by sections 469.152 to 469.165 or any
other law of this state. None of these rights and remedies is intended to be exclusive of any other,
and each is in addition to every other right and remedy.
History: 1987 c 291 s 164