This state does hereby pledge to and agree with the holders of any notes or bonds issued under this part 7 that this state will not limit or alter the rights hereby vested in the authority to fulfill the terms of any agreements made with the said holders thereof or in any way impair the rights and remedies of such holders until such notes and bonds, together with the interest thereon, with interest on any unpaid installments of interest, and all costs and expenses in connection with any action or proceeding by or on behalf of such holders are fully met and discharged. The authority is authorized to include this pledge and agreement of this state in any agreement with the holders of such notes or bonds.
Source: L. 75: Entire section added, p. 982, § 14, effective April 9.
Editor's note: This section was enacted as § 29-4-726 in House Bill 75-1026 but was renumbered on revision in the 1977 replacement volume for ease of location.