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Section 45-37.1-15 Agreement of the state.

RI Gen L § 45-37.1-15 (2019) (N/A)
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§ 45-37.1-15. Agreement of the state. The state of Rhode Island and Providence Plantations does hereby pledge to and agree with the holders of any bonds or notes issued under this chapter, and with those parties who may enter into contracts with the corporation pursuant to the provisions of this chapter, that the state will not limit or alter the rights hereby vested in the corporation until the obligations, together with their interest, are fully met and discharged and the contracts are fully performed on the part of the corporation;, that nothing contained in this chapter precludes the limitation or alteration if and when adequate provisions are made by law for the protection of the holders of the bonds or notes of the corporation or those entering into contracts with the corporation. The corporation is authorized to include this pledge and undertaking for the state in bonds, notes, or contracts.

History of Section. (P.L. 1967, ch. 11, § 1; P.L. 1980, ch. 229, § 10.)

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Section 45-37.1-14 No authority to operate as a business.
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