TITLE 46

Waters and Navigation

CHAPTER 46-15.1

Water Supply Facilities

SECTION 46-15.1-17.3



   § 46-15.1-17.3  Limitation of powers.

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The state does hereby pledge to and agree with the holders of any bonds issued

by the board pursuant to this chapter that the state will not alter or limit

the rights hereby vested in the board to fulfill the terms of any agreement

made with or for the benefit of the holders of bonds, or in any way impair the

rights and remedies of bondholders, until the bonds, together with the interest

thereon, with interest on any unpaid installments of interest, and all costs

and expenses in connection with any action or proceeding by or on behalf of the

holders are fully met and discharged. The board is authorized to include this

pledge and agreement of the state in any agreement with bondholders.



History of Section.

(P.L. 1987, ch. 417, § 6.)