Kansas Statutes 42-388f. Same; suits by bondholders; receivers; duties
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Terms Used In Kansas Statutes 42-388f
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Property: includes personal and real property. See Kansas Statutes 77-201
Any holder or holders of 1/5 of the amount of such outstanding bonds, or any coupons of such 1/5, if there is a default in the payment thereof, by an appropriate suit in court, may enforce the statutory mortgage lien and compel the performance of the duties of the board of commissioners and any other officers of such district, and any court having jurisdiction of such a suit may appoint a receiver to administer the property, including the works owned by the district, with power to charge and collect rates for the services and facilities furnished by the district adequate for all such purposes.