Section 911. Agreement with state  


Latest version.
  • The state does hereby pledge to and agree
      with  the  holders of any bonds issued by the authority pursuant to this
      title and with those persons or public authorities who  may  enter  into
      contracts  with  the  authority  pursuant to the provisions of the title
      that the state will not alter, limit or impair the rights hereby  vested
      in  the  authority  to  purchase,  construct, own and operate, maintain,
      repair, improve, reconstruct, renovate, rehabilitate, enlarge,  increase
      and  extend, or dispose of any project, or any part or parts thereof for
      which bonds of the authority shall have been issued,  to  establish  and
      collect  rates, rents, fees and other charges referred to in this title,
      to fulfill the terms of any contracts or agreements made with or for the
      benefit of the holders of bonds or with any person or  public  authority
      with  reference to such project or part thereof, or in any way to impair
      the rights and remedies of  the  holders  of  bonds,  until  the  bonds,
      together  with  interest  thereon,  including  interest  on  any  unpaid
      installments of interest, and all costs and expenses in connection  with
      any  action  or  proceeding by or on behalf of the holders of bonds, are
      fully met and discharged and such contracts are fully performed  on  the
      part  of  the  authority.  The  authority  is authorized to include this
      pledge and agreement of the state in any agreement with the  holders  of
      bonds.