Towns and cities
Industrial Facilities Corporation
§ 45-37.1-15 Agreement of the state.
The state of Rhode Island and Providence Plantations does hereby pledge to and
agree with the holders of any bonds or notes issued under this chapter, and
with those parties who may enter into contracts with the corporation pursuant
to the provisions of this chapter, that the state will not limit or alter the
rights hereby vested in the corporation until the obligations, together with
their interest, are fully met and discharged and the contracts are fully
performed on the part of the corporation;, that nothing contained in this
chapter precludes the limitation or alteration if and when adequate provisions
are made by law for the protection of the holders of the bonds or notes of the
corporation or those entering into contracts with the corporation. The
corporation is authorized to include this pledge and undertaking for the state
in bonds, notes, or contracts.
History of Section.
(P.L. 1967, ch. 11, § 1; P.L. 1980, ch. 229, § 10.)