Additional rights of holders of bonds.
Memphis Charter, art. 78, § 886
in effectSec. 886. - Additional rights of holders of bonds.
Any holder or holders of the bonds, including a trustee or trustees for holders of such bonds, shall have the right, in addition to all other rights:
(a) By mandamus or other suit, action or proceeding in any court of competent jurisdiction to enforce his or their rights against the municipality, and the governing body of the municipality and any officer, board, commission, agent or employee of the municipality, including, but not limited to, the right to require the municipality and the governing body and any proper officer, board, commission, agent or employee of the municipality to assess, levy and collect taxes, and to fix and collect fees, rents, tolls, or other charges adequate to carry out any agreement as to, or pledge of, such taxes, fees, rents, tolls, or other charges, and to require the municipality and the governing body of the municipality and any officer, agent or employee of the municipality to carry out any other covenants and agreements and to perform its and their duties under this Act, provided, however, no holder or holders of bonds to the payment of which the faith and credit of the City has not been expressly pledged shall ever have the right to compel the levying and collection of taxes to pay such bonds or the interest thereon.
(b) By action or suit in equity to enjoin any acts or things which may be unlawful or a violation of the rights of such holder or holders of bonds.
(Priv. Acts 1935, ch. 108, § 19, 1st Spec. Sess.)
Source: City of Memphis, Code of Ordinances and Charter and Related Laws (Municode Library, library.municode.com)URL: https://library.municode.com/tn/memphis/codes/charter?nodeId=PTICHRELA_ART78PUWOAC_S886ADRIHOBOFetched: 10/28/2026