Delaware Code Title 17 Sec. 322 – Remedies of bondholders and trustees
Any holder of revenue bonds issued to finance the construction of the Bridge or any of the coupons attached thereto, and the trustee under the trust indenture, if any, except to the extent the rights herein given may be restricted by resolution passed before the issuance of the bonds or by the trust indenture, may, either at law or in equity by action, mandamus or other proceedings protect and enforce any and all rights under the laws of the United States or of this State or granted hereunder or under such resolution or trust indenture and may enforce and compel performance of all duties required by this chapter, or by such resolution or trust indenture, to be performed by the Department or any officer thereof, including the fixing, charging and collecting of tolls for the use of such Bridge.
Terms Used In Delaware Code Title 17 Sec. 322
- Bridge: means the Delaware Memorial Bridge over the Delaware River and all approaches thereto and approach highways and all other buildings or structures connected with the Bridge and all equipment essential to the operation thereof and also all property rights, easements and franchises relating thereto and deemed necessary or convenient for the construction or operation thereof and may include any highways connecting the Bridge with a state road. See Delaware Code Title 17 Sec. 301
- Construction: means the first complete building or rebuilding of a highway after it has been converted into a state highway upon a modern engineering design with a permanent foundation of cement, concrete or other equally hard and permanent material and a top dressing of suitable material to economically withstand the wear of the particular traffic to which such highway will probably be subject with an adequate drainage system so that such highway, with reasonable maintenance, can reasonably be expected to endure for upwards of 40 years. See Delaware Code Title 17 Sec. 101
- Department: means the Department of Transportation or if the Department is abolished, any board, commission or officer succeeding to the principal functions thereof or to whom the powers given by this chapter to the Department shall be given by law. See Delaware Code Title 17 Sec. 301
- State: means the State of Delaware; and when applied to different parts of the United States, it includes the District of Columbia and the several territories and possessions of the United States. See Delaware Code Title 1 Sec. 302
- Trustee: A person or institution holding and administering property in trust.
- United States: includes its territories and possessions and the District of Columbia. See Delaware Code Title 1 Sec. 302
Such resolution or trust indenture may contain provisions under which any holder of such bonds or the trustee under such trust indenture shall be entitled to the appointment of a receiver in the event of a default, and any receiver so appointed shall have and may exercise all the rights and powers of the Department with respect to the Bridge and all of the appropriate rights and powers of a receiver in equity.
Code 1935, c. 166; 45 Del. Laws, c. 275, § ?4; 17 Del. C. 1953, § ?322;