Colorado § 32-22-111 Agreement of the state not to limit or alter rights of obligees

Colorado Statutes

§ 32-22-111 — Agreement of the state not to limit or alter rights of obligees

Colorado·Title 32 Special·Art. Front Range Passenger Rail District

The
state hereby pledges and agrees with the holders of any bonds issued under this
article 22 and with any parties who enter into contracts with the district pursuant to
this article 22 that the state will not impair the rights vested in the district or the
rights or obligations of any person with which the district contracts to fulfill the
terms of any agreements made pursuant to this article 22. The state further agrees
that it will not impair the rights or remedies of the holders of any bonds of the
district until the bonds have been paid or until adequate provision for payment has
been made. The district may include this provision and undertaking for the state in
such bonds.

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The
state hereby pledges and agrees with the holders of any bonds issued under this
article 22 and with any parties who enter into contracts with the district pursuant to
this article 22 that the state will not impair the rights vested in the district or the
rights or obligations of any person with which the district contracts to fulfill the
terms of any agreements made pursuant to this article 22. The state further agrees
that it will not impair the rights or remedies of the holders of any bonds of the
district until the bonds have been paid or until adequate provision for payment has
been made. The district may include this provision and undertaking for the state in
such bonds.

Colorado § 32-22-111 (Agreement of the state not to limit or alter rights of obligees) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.