§ 45-38.1-21 - Agreement of the state. - Rhode Island Statutes

SECTION 45-38.1-21

   § 45-38.1-21  Agreement of the state.– The state pledges to and agrees with the holders of any bonds or notes issuedunder this chapter, and with those parties who may enter into contracts withthe corporation pursuant to the provisions of this chapter, that the state willnot limit or alter the rights vested in the corporation until any obligationsunder contracts, together with the interest, are fully met and discharged andthe contracts are fully performed on the part of the corporation, provided,that nothing contained in this chapter precludes the limitation or alterationif and when adequate provision is be made by law for the protection of theholders of the bonds of the corporation or those entering into the contractswith the corporation. The corporation is authorized to include this pledge andundertaking for the state in the bonds, notes, or contracts.