Section 1778. Agreement of the state  


Latest version.
  • The state does hereby pledge to and
      agree with the holders of any bonds or notes  issued  under  this  title
      that  the state will not limit or alter (a) the rights and powers vested
      in the authority by this title to acquire, design,  construct,  improve,
      develop,  control,  maintain and operate a joint public general hospital
      project, to establish  and  collect  rates,  fees,  revenues  and  other
      charges  therefor,  to  receive  and  use for its corporate purposes the
      existing joint  public  general  hospital  now  owned  by  the  city  of
      Salamanca and real and personal property to be transferred to it by said
      city  and  by  the  Salamanca  hospital  district,  and  to  fulfill all
      agreements outstanding of said district, or by the  said  district  with
      the  city  of  Salamanca  or  (b)  the  rights  and powers vested in the
      authority by this title to fulfill the terms of any contract made by the
      authority with such holders,  or  in  any  way  impair  the  rights  and
      remedies  of  such holders until such bonds and notes, 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 the
      state in any contract with the holders of any  bonds  or  notes  of  the
      authority.