Washington Code 28B.07.090 – Holders or owners of bonds — Trustees — Enforcement of rights — Purchase at foreclosure sale
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Any holder or owner of bonds of the authority issued under this chapter or any holder of the coupons appertaining to the bonds, and the trustee or trustees under any trust indenture, except to the extent the rights given are restricted by the authority in any bond resolution or trust indenture authorizing the bonds, may, either at law or in equity, by suit, action, mandamus, or other proceedings, protect and enforce any of their respective rights, and may become the purchaser at any foreclosure sale if the person is the highest bidder.
[ 1983 c 169 § 9.]
Terms Used In Washington Code 28B.07.090
- Authority: means the Washington higher education facilities authority created under RCW 28B. See Washington Code 28B.07.020
- Bond resolution: means any resolution of the authority, adopted under this chapter, authorizing the issuance and sale of bonds. See Washington Code 28B.07.020
- Bonds: means bonds, notes, commercial paper, certificates of indebtedness, or other evidences of indebtedness of the authority issued under this chapter. See Washington Code 28B.07.020
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- person: may be construed to include the United States, this state, or any state or territory, or any public or private corporation or limited liability company, as well as an individual. See Washington Code 1.16.080
- Trust indenture: means any agreement, trust indenture, or other similar instrument by and between the authority and one or more corporate trustees. See Washington Code 28B.07.020
- Trustee: A person or institution holding and administering property in trust.