The State pledges to and agrees with any holder of the bonds that the State will not limit or alter the rights vested in the Authority until all bonds at any time issued, together with the interest thereon and all costs and expenses in connection with any action or proceeding by or on behalf of the bondholders, are fully met and discharged. Nothing herein contained shall preclude such limitation or alteration, if, and when, adequate provision shall have been made by law for the protection from impairment of the contracts represented by such bonds.
Structure Delaware Code
Chapter 87A. ECONOMIC DEVELOPMENT
Subchapter VII. Delaware Economic Development Authority
§ 8751A. Findings; declaration of policy.
§ 8753A. Established; organization.
§ 8754A. Deauthorization of state-guaranteed bonds.
§ 8755A. Application for assistance; findings and determinations.
§ 8757A. Covenants with bondholders.
§ 8758A. Pledge of revenues or other property.
§ 8759A. Limitation on liability of State.
§ 8760A. Negotiability of bonds.
§ 8761A. Default in payment of state-guaranteed bonds; insufficient revenues to make payment.
§ 8762A. Limitation of powers of State.
§ 8764A. Bonds as legal investments for institutions and fiduciaries.
§ 8765A. Exemption from taxation.
§ 8766A. Property of Authority exempt from judicial process.
§ 8767A. Liberal construction of subchapter.
§ 8768A. Inconsistent laws inapplicable; facsimile signatures.