1979-043 - Laserfiche WebLink

Home Browse Search

n condition, or obligation; and to covenant and prescribe as to events of default and terms and conditions upon which any or all of its bonds or obligations shall become or may be declared due before maturity and as to the terms and conditions upon which such declaration and its consequences may be waived. (7) To vest in a trustee or trustees or the holders of bonds or any pro- portion of them the right to enforce the payment of the bonds or any covenants securing or relating to the bonds; to vest in a trustee or trustees the right, in the event of a default by said housing finance authority, to collect the payments made pursuant to any loan agreement or pursuant to the sale of any loan or loan commitment and to dispose of such rights in accordance with the agreement of the housing finance authority with said trustee; to provide for the powers and duties of a trustee or trustees to limit the liabilities thereof; and to provide the terms and conditions upon which the trustee or trustees of the holders of bonds or any proportion of them may enforce any covenant or rights securing or relating to the bonds. Section 15. Validation of bonds and proceedings. --A housing finance authority shall determine its authority to issue any of its bonds, and the legality of all proceedings had or taken in connection therewith, in the same manner and to the same extent as provided in chapter 75, Florida Statutes, for the determination by a county, municipality, taxing district, or other political subdivision of its authority to incur bonded debt or to issue certificates of indebtedness and of the legality of all proceedings had or taken in connection therewith. Section 16. Actions to contest validity of bonds. --An action or proceeding to contest the validity of any bond issued under this act, other than a proceeding pursuant to section 15, must be commenced within 30 days after notification in a newspaper of general circulation within the area of the passage by the housing finance authority of the resolution authorizing the issuance of such bond. Section 17. Remedies of an obligee of a housing finance authority. --An obligee of a housing finance authority shall have the right, in addition to all other rights which may be conferred on such obligee, subject only to any contractual restrictions binding upon such obligee: (1) By mandamus, suit, action, ur proceeding at law or in equity, to compel the housing finance authority and the members, officers, agents, or employees thereof to perform each and every term, provision, and covenant