Rhode Island § 35-8.1-23 § 35-8.1-23. State's pledge not to limit or alter authority's powers.

Rhode Island Statutes

§ 35-8.1-23 — § 35-8.1-23. State's pledge not to limit or alter authority's powers.

Rhode Island § 35-8.1-23

Title 35Public Finance

Ch. 35-8.1Refunding Bond Authority

This text of Rhode Island § 35-8.1-23 (§ 35-8.1-23. State's pledge not to limit or alter authority's powers.) is published on Counsel Stack Legal Research, covering Rhode Island primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

R.I. Gen. Laws § 35-8.1-23 (2026).

Text

§ 35-8.1-23. State's pledge not to limit or alter authority's powers.
The state pledges to and agrees with any person, firm, or corporation, or federal
            agency subscribing to or acquiring the bonds to be issued by the authority that the
            state will not limit or alter the rights vested in the authority until all bonds at
            any time issued, together with the interest thereon, are fully met and discharged.
            The state further pledges to and agrees with the United States and any other federal
            agency that, in the event that any federal agency shall contribute any funds to the
            authority, the state will not alter or limit the rights and powers of the authority
 

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§ 35-8.1-23. State's pledge not to limit or alter authority's powers.

The state pledges to and agrees with any person, firm, or corporation, or federal agency subscribing to or acquiring the bonds to be issued by the authority that the state will not limit or alter the rights vested in the authority until all bonds at any time issued, together with the interest thereon, are fully met and discharged. The state further pledges to and agrees with the United States and any other federal agency that, in the event that any federal agency shall contribute any funds to the authority, the state will not alter or limit the rights and powers of the authority in any manner which would be inconsistent with the due performance of any agreements between the authority and the federal agency and the authority shall continue to have and may exercise all powers granted in this chapter, so long as these powers shall be necessary or desirable for the carrying out of the purpose of this chapter.