§ 42-55-18. Pledge of the state.
The state pledges to and agrees with the holders of any notes or bonds issued under this chapter that the state will not limit or alter the rights vested in the corporation to fulfill the terms of any agreements made with the holders or in any way impair the rights and remedies of those holders until those 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 those holders, are fully met and discharged. The corporation is authorized to include this pledge and agreement of the state in any agreement with the holders of those notes or bonds.
History of Section.P.L. 1973, ch. 262, § 1.
Structure Rhode Island General Laws
Title 42 - State Affairs and Government
Chapter 42-55 - Rhode Island Housing and Mortgage Finance Corporation
Section 42-55-1. - Short title.
Section 42-55-2. - Legislative findings.
Section 42-55-3. - Definitions.
Section 42-55-4. - Creation of corporation — Composition — Personnel — Compensation.
Section 42-55-5. - General powers.
Section 42-55-5.1. - Subsidiary corporations.
Section 42-55-5.2. - Consistency with plans.
Section 42-55-5.3. - Letters of eligibility.
Section 42-55-5.4. - Renewable energy in housing developments.
Section 42-55-6. - Powers relative to making loans.
Section 42-55-7.1. - Powers relative to acquisition and operation of housing projects.
Section 42-55-8. - Supervision of housing sponsors and health care sponsors.
Section 42-55-9. - Terms and conditions of loans.
Section 42-55-11. - Admission and income limitations relative to housing developments.
Section 42-55-13. - Bonds and notes.
Section 42-55-14. - Reserve funds and appropriations.
Section 42-55-15. - Issuance of refunding obligations.
Section 42-55-16. - Sale of refunding obligations.
Section 42-55-17. - Remedies of bondholders and note holders.
Section 42-55-18. - Pledge of the state.
Section 42-55-19. - Credit of state not pledged.
Section 42-55-20. - Notes and bonds as legal investments.
Section 42-55-22. - Annual reports.
Section 42-55-22.1. - Mortgage disclosure reports.
Section 42-55-22.2. - Fair housing policy reports.
Section 42-55-22.3. - Emergency housing assistance.
Section 42-55-23. - Authorization to accept appropriated moneys.
Section 42-55-24. - Tax exemption.
Section 42-55-24.1. - Allocation of tax credits.
Section 42-55-26. - Qualified mortgage bonds.
Section 42-55-27. - Lead paint removal revolving fund.
Section 42-55-28. - Inconsistent provisions in other laws superseded.