§ 23-19-20 - Pledge of the state. - Rhode Island Statutes

SECTION 23-19-20

   § 23-19-20  Pledge of the state. – The state does hereby pledge to and agree with the holders of any notes orbonds issued under this chapter and with those parties who may enter intocontracts with the corporation, that the state will not limit or alter therights vested in the corporation to fulfill the terms of any agreements madewith the holders of any notes or bonds issued under this chapter or in any wayimpair the rights and remedies of the holders and other parties until the notesand bonds together with their interest, with interest on any unpaidinstallments of interest, and all costs and expenses in connection with anyaction or proceeding by or on behalf of the holders and other parties, arefully met and discharged and the contracts are fully performed on the part ofthe corporation. The corporation is authorized to include this pledge andagreement of the state in any agreement with the holders of the notes or bondsor contracts.