§ 2049-MM — Agreement with the state

§ 2049-mm. 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, own and operate,\nmaintain, repair, improve, increase, enlarge, extend, reconstruct,\nrenovate, rehabilitate or dispose of any project, or any part or parts\nthereof, for which bonds of the authority shall have been issued, to\nestablish and collect rates, rents, fees and other charges referred to\nin this title, to fulfill the terms of any agreement made with or for\nthe benefit of the holders of bonds or with any public corporation or\nperson with reference to such project or part thereof, or in any way\nimpair the rights and remedies of bondholders, until the bonds, together\nwith the interest thereon, including interest on any unpaid installments\nof interest, and all costs and expenses in connection with any action or\nproceeding by or on behalf of such holders, are fully met and\ndischarged; provided, however, that this section shall not be construed\nto limit in any manner the ability of the state to alter, amend, or\nenforce laws or regulations to protect public health and the\nenvironment. The authority is authorized to include this pledge and\nagreement of the state in any agreement with bondholders.\n