Texas Transportation Code 441.177 – Bondholder Mandamus
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Terms Used In Texas Transportation Code 441.177
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Writ: A formal written command, issued from the court, requiring the performance of a specific act.
A holder of a district bond is entitled, in addition to any other right or remedy provided by state law, to a writ of mandamus requiring the district and its officials to perform any obligation that:
(1) is provided by the order or resolution authorizing issuance of the bond; and
(2) the district fails to perform, including:
(A) defaulting in the payment of principal, interest, or redemption price on the bond when due; and
(B) failing to make payment into any fund created in the order or resolution.