Any holder of revenue bonds or interest coupons issued under the provisions of this
division, any receiver for such holders, or indenture trustee, if any there be, 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 suit, action, mandamus or other proceedings, protect and enforce any and all rights
under the laws of the State of Georgia or granted hereunder or under such resolution
or trust indenture, and may enforce and compel performance of all duties required
by this division, or by resolution or trust indenture, to be performed by the authority,
or any officer thereof, including the fixing, charging, and collecting of revenues,
rents, and other charges for the use of the project or projects, and, in the event
of default of the authority upon the principal and interest obligations of any revenue
bond issue, shall be subrogated to each and every right, specifically including the
contract rights of collecting rental, which the authority may possess against the
lessee and, in the pursuit of its remedies as subrogee, may proceed, either at law
or in equity, by suit, action, mandamus or other proceedings, to collect any sums
by such proceedings due and owing to the authority and pledged or partially pledged
directly or indirectly to the benefit of the revenue bond issue of which said individual,
receiver, or trustee is representative. No holder of any such bond or receiver or
indenture trustee thereof shall have the right to compel any exercise of the taxing
power of any lessee to pay any such bond or the interest thereon, or to enforce the
payment thereof against any property of any lessee which is not a private person,
firm, or corporation, nor shall any such bond constitute a charge, lien, or encumbrance,
legal or equitable, upon the property of any lessee which is not a private person,
firm, or corporation. Provided, however, any provision of this [division] or any other
act to the contrary notwithstanding, any such bondholder or receiver or indenture
trustee shall have the right by appropriate legal or equitable proceedings (including,
without being limited to, mandamus) to enforce compliance by the appropriate public
officials of the provisions of any contract, lease, or leases entered into with the
authority, and permission is hereby given for the institution of any such proceedings
to compel the payment of lease obligations.
