§ 1599-KKK*2 — Agreements of the city

* § 1599-kkk. Agreements of the city. 1. The city of Jamestown is\nauthorized to pledge to and agree with the holders of the bonds that the\ncity will not limit or alter the rights hereby vested in the authority\nto acquire, construct, maintain, reconstruct and operate the project or\nprojects, to establish and collect rentals, fees and other charges and\nto fulfill the terms of any agreements made with the holders of bonds or\nin any way impair the rights and remedies of the bondholders, until the\nbonds, together with interest thereon, with interest on any unpaid\ninstallments of interest, and all costs and expenses in connection with\nany action or proceeding by or on behalf of the bondholders, are fully\nmet and discharged.\n 2. The authority is hereby authorized, in its discretion, for and on\nbehalf of itself and the city of Jamestown, to covenant and agree with\nthe holders of the bonds, with such exceptions and limitations as it may\ndeem in the public interest, that no public parking areas except those\nacquired and operated by the authority will be constructed or operated\nin the city by the city, or by any public benefit or other corporation\nthe members or some of which are elected or are appointed by city\nofficials, except that meters may be installed and operated on public\nstreets of the city, until either (a) the bonds, together with interest\nthereon, interest on any unpaid installments of interest and all costs\nand expenses in connection with any action or proceeding by or on behalf\nof the bondholders are fully met and discharged or (b) principal or\ninterest of any of the bonds shall be overdue and unpaid for a period of\nthree years or more.\n * NB Authority ceased to exist 04/01/1977\n * NB There are 2 § 1599-kkk's\n