The holder of any bond or any interest coupon issued pursuant to the authority granted
in Sections 21-27-23 and 21-27-51 may, by suit, action, mandamus or other proceedings at law or in equity, enforce
and compel performance by the appropriate official or officials of the municipality
of any or all acts and duties to be performed by such municipality under the provisions
of Sections 21-27-11 through 21-27-69 and the ordinance authorizing the issuance of such bond or interest coupon. If there be any default in the payment of the interest on and principal of any of
said bonds, any court having jurisdiction in the proper action may, upon petition
of the holder of any of such bonds, appoint a receiver to administer and operate the
system with power to fix rates and collect charges sufficient to provide for the payment
of all bonds outstanding to the payment of which the revenues of such system are pledged
and to pay the expenses of operating and maintaining such system and to apply the
revenues of such system, all in conformity with the provisions of Sections 21-27-11 through 21-27-69 and of the ordinance authorizing the issuance of such bonds.
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