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106.100 Procedure in case of default.

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106.100 Procedure in case of default. If there is any default in the payment of the principal and interest of any bond, any court <br>having jurisdiction of the action may appoint a receiver to administer the waterworks on <br>behalf of the water district or city, with power to charge and collect rates sufficient to <br>provide for the payment of any bonds or obligations outstanding against the waterworks <br>and for the payment of the operating expenses, and to apply the income and revenue in <br>conformity with the provisions of this chapter and in conformity with the resolution <br>adopted by the water district commissioners or the ordinance adopted by the city <br>legislative body as hereinbefore set out. Effective: June 17, 1954 <br>History: Created 1954 Ky. Acts ch. 18, sec. 10, effective June 17, 1954.