The state hereby pledges and agrees with the holders of any bonds issued under this part 5 and with those parties who enter into contracts with the authority or any member of the combination pursuant to this part 5 that the state will not limit, alter, restrict, or impair the rights vested in the authority or the rights or obligations of any person with which it contracts to fulfill the terms of any agreements made pursuant to this part 5. The state further agrees that it will not in any way impair the rights or remedies of the holders of any bonds of the authority until such bonds have been paid or until adequate provision for payment has been made. The authority may include this provision and undertaking for the state in such bonds.
Source: L. 87: Entire part added, p. 1855, § 1, effective August 27.
Structure Colorado Code
Part 5 - Public Highway Authority Law
§ 43-4-502. Legislative Declaration
§ 43-4-504. Creation of Authorities
§ 43-4-505. Board of Directors
§ 43-4-506.5. Traffic Laws - Toll Collection
§ 43-4-507. Local Improvement Districts
§ 43-4-508. Value Capture Areas
§ 43-4-510. Cooperative Powers
§ 43-4-511. Powers of Governmental Units
§ 43-4-513. Notice - Opportunity for Comment
§ 43-4-514. Notice - Coordination of Information - Report
§ 43-4-516. Agreement of the State Not to Limit or Alter Rights of Obligees
§ 43-4-518. Bonds Eligible for Investment
§ 43-4-519. Exemption From Taxation - Securities Laws
§ 43-4-520. No Action Maintainable
§ 43-4-521. Termination of Revenue-Raising Powers
§ 43-4-522. Judicial Examination of Powers, Acts, Proceedings, or Contracts of an Authority