Sec. 32-611. State pledge to bond holders and contractors. - Connecticut Statutes

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Statutes > Connecticut > Title32 > Chap588x > Sec32-611

      Sec. 32-611. State pledge to bond holders and contractors. The state of Connecticut does hereby pledge to and agree with the holders of any bonds, notes and other obligations issued under section 32-607 and with those parties who may enter into contracts with the Capital City Economic Development Authority or its successor agency, that the state will not limit or alter the rights hereby vested in the authority or in the holders of any bonds, notes or other obligations of the authority to which contract assistance is pledged pursuant to section 32-608 until such obligations, together with the interest thereon, are fully met and discharged and such contracts are fully performed on the part of the authority, provided nothing contained herein shall preclude such limitation or alteration if and when adequate provision shall be made by law for the protection of the holders of such bonds, notes and other obligations of the authority or those entering into contracts with the authority. The authority is authorized to include this pledge and undertaking for the state in such bonds, notes and other obligations or contracts.

      (P.A. 98-179, S. 12, 30.)

      History: P.A. 98-179 effective June 1, 1998.

State Codes and Statutes

Statutes > Connecticut > Title32 > Chap588x > Sec32-611

      Sec. 32-611. State pledge to bond holders and contractors. The state of Connecticut does hereby pledge to and agree with the holders of any bonds, notes and other obligations issued under section 32-607 and with those parties who may enter into contracts with the Capital City Economic Development Authority or its successor agency, that the state will not limit or alter the rights hereby vested in the authority or in the holders of any bonds, notes or other obligations of the authority to which contract assistance is pledged pursuant to section 32-608 until such obligations, together with the interest thereon, are fully met and discharged and such contracts are fully performed on the part of the authority, provided nothing contained herein shall preclude such limitation or alteration if and when adequate provision shall be made by law for the protection of the holders of such bonds, notes and other obligations of the authority or those entering into contracts with the authority. The authority is authorized to include this pledge and undertaking for the state in such bonds, notes and other obligations or contracts.

      (P.A. 98-179, S. 12, 30.)

      History: P.A. 98-179 effective June 1, 1998.

State Codes and Statutes

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State Codes and Statutes

Statutes > Connecticut > Title32 > Chap588x > Sec32-611

      Sec. 32-611. State pledge to bond holders and contractors. The state of Connecticut does hereby pledge to and agree with the holders of any bonds, notes and other obligations issued under section 32-607 and with those parties who may enter into contracts with the Capital City Economic Development Authority or its successor agency, that the state will not limit or alter the rights hereby vested in the authority or in the holders of any bonds, notes or other obligations of the authority to which contract assistance is pledged pursuant to section 32-608 until such obligations, together with the interest thereon, are fully met and discharged and such contracts are fully performed on the part of the authority, provided nothing contained herein shall preclude such limitation or alteration if and when adequate provision shall be made by law for the protection of the holders of such bonds, notes and other obligations of the authority or those entering into contracts with the authority. The authority is authorized to include this pledge and undertaking for the state in such bonds, notes and other obligations or contracts.

      (P.A. 98-179, S. 12, 30.)

      History: P.A. 98-179 effective June 1, 1998.