RS 47:338.35: Pledge of revenues; rights of bondholders

Bonds issued hereunder shall be payable solely from and secured by an irrevocable pledge and dedication of all or such part of the sales tax revenues as may be pledged thereto in the authorizing resolution. Any holder of any of such bonds, or coupons thereto attached, may either at law or in equity, by suit, action, mandamus or other proceeding, enforce and compel performance of all duties required to be performed by the governing authority of the municipality as a result of issuing the bonds, and may similarly enforce the provisions of the ordinance imposing the tax and the resolution and proceedings authorizing the issuance of the bonds.