49-1266. Agreement of state
This state pledges to and agrees with the holders of the bonds that this state will
not limit or alter the rights vested in the water infrastructure finance authority of
Arizona or any successor agency to collect the monies necessary to produce sufficient
revenue to fulfill the terms of any agreements made with the holders of the bonds, or in
any way impair the rights and remedies of the bondholders, until all bonds issued under
this article, together with interest, including interest on any unpaid installments of
interest, and all costs and expenses in connection with any action or proceedings by or
on behalf of the bondholders, are fully met and discharged. The board as agent for this
state may include this pledge and undertaking in its resolutions and indentures securing
its bonds.
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