TITLE 45

Towns and cities

CHAPTER 45-37.1

Industrial Facilities Corporation

SECTION 45-37.1-15



   § 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.)