9-4-916 - State pledge to holders of notes or bonds. - Utah Statutes

9-4-916. State pledge to holders of notes or bonds.
(1) The state does hereby pledge to and agree with the holders of any notes or bondsissued under this act that the state will not limit or alter the rights hereby vested in the corporationto fulfill the terms of any agreements made with the holders thereof or in any way impair therights and remedies of the holders until the notes and bonds, together with their interest, withinterest on any unpaid installments of interest, and all costs and expenses in connection with anyaction or proceeding by or on behalf of the holders, are fully met and discharged.
(2) The corporation is authorized to include this pledge and agreement of the state in anyagreement with the holders of the notes or bonds.

Amended by Chapter 319, 2001 General Session