§ 29-4-731 — Agreement of this state

This state does hereby pledge to and
agree with the holders of any notes or bonds issued under this part 7 that this state
will not limit or alter the rights hereby vested in the authority to fulfill the terms of
any agreements made with the said holders thereof or in any way impair the rights
and remedies of such holders until such notes and 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 such
holders are fully met and discharged. The authority is authorized to include this
pledge and agreement of this state in any agreement with the holders of such notes
or bonds.

Legislative History

Source: L. 75: Entire section added, p. 982, � 14, effective April 9.