Waters and Navigation
Water Supply Facilities
§ 46-15.1-17.3 Limitation of powers.
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.)