§ 1149-L — Agreement with the state

§ 1149-l. Agreement with the state. The state does hereby pledge to\nand agree with the holders of any bonds issued by the authority pursuant\nto this title that the state will not alter or limit the rights hereby\nvested in the authority to purchase, construct, maintain, operate,\nrepair, improve, increase, enlarge, extend, reconstruct, renovate,\nrehabilitate or dispose of any water or sewer project, or any part or\nparts thereof, for which bonds of the authority shall have been issued,\nto establish and collect rates, rents, fees and other charges referred\nto in this title and to fulfill the terms of any agreement made with or\nfor the benefit of the holders of the bonds or with any public\ncorporation or person with reference to such project or part thereof, or\nin any way impair the rights and remedies of the bondholders, until the\nbonds, together with the interest thereon, including interest on any\nunpaid installments of interest, and all costs and expenses in\nconnection with any action or proceeding by or on behalf of such\nholders, are fully met and discharged. The authority is authorized to\ninclude this pledge and agreement of the state in any agreement with\nbondholders.\n