35-2-714. Securities for acquiring hospitals and related facilities; obligation of trustees to holders; suit for default, misuse of funds.
The obligation of the trustees to the holders of the securities shall be limited to applying the funds to the payment of interest and principal on the securities and the securities shall contain a provision to that effect. In the event of default in the payment of the securities or the interest thereon and in the event that the trustees are misusing the funds or not using the funds as provided by W.S. 35-2-711 through 35-2-722 and the resolution authorizing the securities, or in the event of any other breach of any protective covenant or other contractual limitation, then any holder may bring suit against the trustees in the district court of the county in which the rural health care district or any of its facilities are located for the purpose of restraining the trustees from using the funds for any purpose other than the payment of the principal and interest on the securities in the manner provided or for any other appropriate remedy.
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