40:37A-124 - Pledge and agreement of state not to impair rights or remedies of bondholders - New Jersey Statutes

40:37A-124.  Pledge and agreement of state not to impair rights or remedies  of bondholders
    The State of New Jersey does hereby pledge to and covenant and agree with the holders of any bonds, bond anticipation notes or other notes or obligations  issued pursuant to the authority of this act that the State will not limit or  alter the rights or powers hereby vested in the authority to perform and  fulfill the terms of any agreement made with the holders of such bonds, bond  anticipation notes or other notes or obligations, or in any way impair the  rights or remedies of such holders until such bonds, bond anticipation notes  and other notes or obligations, together with interest thereon, with interest  on any unpaid installments of interest, and all costs and expenses in  connection with any action or proceedings by or in behalf of such holders, are  fully met and discharged or provided for. The authority may include this  pledge and agreement of the State in any agreement with the holders of bonds,  bond anticipation notes and other notes or obligations issued by the  authority.

     L.1979, c. 275, s. 19, eff. Jan. 3, 1980.