There is a newer version of the Kentucky Revised Statutes
2009 Kentucky Revised Statutes
CHAPTER 247 PROMOTION OF AGRICULTURE AND HORTICULTURE
247.953 Commonwealth prohibited from altering the right of corporation to fulfill agreements with its bondholders.
Download pdfholders thereof, the Commonwealth does hereby pledge to and agree with the holders of
any bonds of the corporation issued pursuant to the provisions of KRS 247.940 to
247.978, that the Commonwealth will not impair, limit, or alter the rights hereby vested
in the corporation to fulfill the terms of any agreements made with the holders of the
bonds of the corporation, or in any way impair the rights or remedies of the holders
thereof, until the bonds, together with the interest thereon, with interest on any unpaid
installments of interest, and all costs and expenses in connection with any action or
proceedings by or on behalf of the holders, are fully met and discharged. The corporation
is authorized to include this pledge and agreement of the Commonwealth in any
agreement with the holders of bonds of the corporation. Effective: July 13, 1990
History: Created 1990 Ky. Acts ch. 440, sec. 8, effective July 13, 1990.
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