21-281 - Inviolability of rights and remedies. - Virginia Statutes

§ 21-281. Inviolability of rights and remedies.

The Commonwealth does pledge to and agree with the holders of any bonds orother obligations issued by any commission pursuant to this chapter that theCommonwealth will not limit or alter the rights hereby vested in suchcommission to charge and collect such fees, rents and charges and otherrevenues as may be convenient or necessary in order to comply with the termsand provisions of any contract or contracts made by such commission with suchholders, or in any way impair the rights and remedies of such holders, untilthe bonds and other obligations, together with interest thereon, withinterest on any unpaid installments of interest, and all costs and expensesin connection with any action or proceeding by or on behalf of such holdersare fully met and discharged.

(1946, p. 365; Michie Suppl. 1946, § 1560iii27.)