§ 39-16-15. Pledge not to alter rights of authority.
The state does hereby pledge to and agree with the holders of the bonds, notes, and other evidences of indebtedness of the authority that the state will not limit or alter rights hereby vested in the authority until the bonds, notes, or other evidences of indebtedness, together with interest thereon, with interest on any unpaid installment of interest and all costs and expenses in connection with any actions or proceedings by or on behalf of the bondholders, are fully met and discharged.
History of Section.P.L. 1946, ch. 1740, § 6; G.L. 1956, § 39-16-15.
Structure Rhode Island General Laws
Title 39 - Public Utilities and Carriers
Chapter 39-16 - Kent County Water District
Section 39-16-1. - Definitions.
Section 39-16-2. - District created.
Section 39-16-3. - Board created.
Section 39-16-4. - Composition of board.
Section 39-16-5. - Officers and employees of board.
Section 39-16-6. - Compensation of members and agents.
Section 39-16-7. - Business prohibited to members.
Section 39-16-8. - Powers of authority.
Section 39-16-9. - Application of public utility law — Rate determination.
Section 39-16-10. - Power to issue bonds — Pledge of revenues.
Section 39-16-11. - Terms and sale of bonds — Refunding.
Section 39-16-12. - Covenants permissible in bond resolution.
Section 39-16-13. - Tax exemption.
Section 39-16-14. - Payments in lieu of taxes.
Section 39-16-15. - Pledge not to alter rights of authority.
Section 39-16-16. - Bonds as legal investments.
Section 39-16-17. - Money of authority.
Section 39-16-18. - Right to alter, amend, or repeal chapter.
Section 39-16-19. - Severability.
Section 39-16-20. - Supplementary powers.