§ 35A-8-717. State pledge to holders of notes or bonds.

(1) The state pledges and agrees with the holders of any notes or bonds issued under this act that the state will not limit or alter the rights hereby vested in the corporation to fulfill the terms of any agreements made with the holders of the notes or bonds or in any way impair the rights and remedies of the holders until the notes and bonds, together with their interest, with interest on any unpaid installments of interest, and all costs and expenses in connection with any action or proceeding by or on behalf of the holders, are fully met and discharged.

(2) The corporation may include this pledge and agreement of the state in any agreement with the holders of the notes or bonds.

Renumbered and Amended by Chapter 212, 2012 General Session