Section 166.00. Action against municipal officers

a. The holder in due
  course of any bond, note or interest bearing coupon issued  due  to  the
  malfeasance,   misfeasance,   or   negligence   of   any  officer  of  a
  municipality, school district or district corporation,  whose  cause  of
  action  thereon  is  determined  by  judgment,  or  who is privy to such
  action, may within three years after entry of judgment begin  an  action
  against such officer for the recovery of all damages suffered because of
  such malfeasance, misfeasance or negligence.
    b.  A  municipality,  school district or district corporation which is
  required pursuant to a judgment to pay a bond, note or interest  bearing
  coupon  issued  due to the malfeasance, misfeasance or negligence of any
  officer thereof, may within three years  after  such  payment  begin  an
  action against such officer and recover the amount so paid with interest
  from the time of payment.
    c.  An  order  of  arrest  and  an execution against the person of the
  defendant may be issued in an action instituted pursuant to paragraph  a
  or b of this section.