§ 46-15.1-17.3 - Limitation of powers. - Rhode-island Statutes

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Statutes > Rhode-island > Title-46 > Chapter-46-15-1 > 46-15-1-17-3

SECTION 46-15.1-17.3

§ 46-15.1-17.3 Limitation of powers.– The state does hereby pledge to and agree with the holders of any bonds issuedby the board pursuant to this chapter that the state will not alter or limitthe rights hereby vested in the board to fulfill the terms of any agreementmade with or for the benefit of the holders of bonds, or in any way impair therights and remedies of bondholders, until the bonds, together with the interestthereon, with interest on any unpaid installments of interest, and all costsand expenses in connection with any action or proceeding by or on behalf of theholders are fully met and discharged. The board is authorized to include thispledge and agreement of the state in any agreement with bondholders.

State Codes and Statutes

Statutes > Rhode-island > Title-46 > Chapter-46-15-1 > 46-15-1-17-3

SECTION 46-15.1-17.3

§ 46-15.1-17.3 Limitation of powers.– The state does hereby pledge to and agree with the holders of any bonds issuedby the board pursuant to this chapter that the state will not alter or limitthe rights hereby vested in the board to fulfill the terms of any agreementmade with or for the benefit of the holders of bonds, or in any way impair therights and remedies of bondholders, until the bonds, together with the interestthereon, with interest on any unpaid installments of interest, and all costsand expenses in connection with any action or proceeding by or on behalf of theholders are fully met and discharged. The board is authorized to include thispledge and agreement of the state in any agreement with bondholders.

State Codes and Statutes

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State Codes and Statutes

Statutes > Rhode-island > Title-46 > Chapter-46-15-1 > 46-15-1-17-3

SECTION 46-15.1-17.3

§ 46-15.1-17.3 Limitation of powers.– The state does hereby pledge to and agree with the holders of any bonds issuedby the board pursuant to this chapter that the state will not alter or limitthe rights hereby vested in the board to fulfill the terms of any agreementmade with or for the benefit of the holders of bonds, or in any way impair therights and remedies of bondholders, until the bonds, together with the interestthereon, with interest on any unpaid installments of interest, and all costsand expenses in connection with any action or proceeding by or on behalf of theholders are fully met and discharged. The board is authorized to include thispledge and agreement of the state in any agreement with bondholders.