§ 32-23k — State pledge to bond holders and contractors.

Connecticut § 32-23k

• Jurisdiction: Connecticut
• Title 32: Commerce and Economic and Community Development
• Ch. 579: Connecticut Innovations, Incorporated

Text

The state of Connecticut does hereby pledge to and agree with the holders of any bonds and notes issued under the provisions of section 32-23f, and with those parties who may enter into contracts with Connecticut Innovations, Incorporated, or its successor agency, that the state will not limit or alter the rights hereby vested in the corporation until such obligations, together with the interest thereon, are fully met and discharged and such contracts are fully performed on the part of the corporation, provided nothing contained herein shall preclude such limitation or alteration if and when adequate provision shall be made by law for the protection of the holders of such bonds and notes of the corporation or those entering into such contracts with the corporation. The corporation is authorized to include this pledge and undertaking for the state in such bonds and notes or contracts.

Legislative History

(1972, P.A. 195, S. 10; P.A. 73-599, S. 16; P.A. 78-303, S. 117, 136; P.A. 84-512, S. 28, 30; P.A. 01-179, S. 17; June 12 Sp. Sess. P.A. 12-1, S. 168.) History: P.A. 73-599 replaced Connecticut development commission with Connecticut development authority; P.A. 78-303 deleted reference to Sec. 4-60a; P.A. 84-512 deleted references to Secs. 4-5 and 4-24a; (Revisor's note: In 1993 the obsolete reference to repealed Sec. 36-322 was deleted editorially by the Revisors); P.A. 01-179 replaced references to chapters 578 and 579 and Sec. 10-320b(a) with references to authority legislation as defined in Sec. 32-23d(hh); June 12 Sp. Sess. P.A. 12-1 replaced “Connecticut Development Authority” with “Connecticut Innovations, Incorporated”, replaced “authority” with “corporation” and made conforming changes, effective July 1, 2012.