§ 45-54-21. Limitation of powers.
The state pledges to and agrees with the holders of any bonds or notes issued by the corporation, 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 until those bonds or notes, 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 the 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 the bonds or notes.
History of Section.P.L. 1991, ch. 421, § 1.
Structure Rhode Island General Laws
Chapter 45-54 - Municipal Detention Facility Corporations
Section 45-54-1. - Corporations created.
Section 45-54-2. - Legislative findings.
Section 45-54-3. - Definitions.
Section 45-54-4. - Resolution conclusive as to capacity of corporation.
Section 45-54-5. - Board of directors — Tenure — Quorums.
Section 45-54-7. - Exemption from taxation.
Section 45-54-9. - Eminent domain proceedings.
Section 45-54-10. - Revenue bonds.
Section 45-54-11. - Trust agreement.
Section 45-54-13. - Trust funds.
Section 45-54-15. - Negotiable instruments.
Section 45-54-16. - Refunding bonds.
Section 45-54-17. - Credit of state and political subdivisions not pledged.
Section 45-54-18. - Use of projects.
Section 45-54-19. - Capital reserves.
Section 45-54-20. - Bonds eligible for investment.
Section 45-54-21. - Limitation of powers.
Section 45-54-22. - Annual report and audit.
Section 45-54-23. - Transfers to governmental body.
Section 45-54-24. - Applicability of other laws.
Section 45-54-25. - Liberal construction.
Section 45-54-26. - Inconsistent provisions.