§ 2053-O — Agreement with the state

§ 2053-o. Agreement with the state. The state does hereby pledge to\nand agree with the holders of any bonds or notes issued by the authority\npursuant to this title that the state will not alter or limit the rights\nhereby vested in the authority to purchase, construct, maintain,\noperate, 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 the\nbenefit of the holders of bonds or notes or with any public corporation\nor person with reference to such project or part thereof, or in any way\nto impair the rights and remedies of bondholders until the bonds or\nnotes, together with the interest thereon, including interest on any\nunpaid installments of interest and all costs and expenses in connection\nwith any action or proceeding by or on behalf of such holders, are fully\nmet and discharged, provided, however, that this section shall not be\nconstrued to limit in any manner the ability of the state to alter,\namend or enforce 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