2011 Louisiana Laws
Revised Statutes
TITLE 40 — Public health and safety
RS 40:600.16 — Covenant of state
§600.16. Covenant of state
NOTE: Repealed by Acts 2011, No. 408, §3, eff. midnight, June 30, 2012.
In consideration of the acceptance of and payment for the bonds of the agency by the holders thereof, the state does hereby pledge to and agree with the holders of any bonds of the agency issued pursuant to the provisions of this Chapter, that the state will not impair, limit or alter the rights hereby vested in the agency to fulfill the terms of any agreements made with the holders of the bonds of the agency, or in any way impair the rights or remedies of such holders thereof, until such 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 such holders, are fully met and discharged. The agency is authorized to include this pledge and agreement of the state in any agreement with the holders of bonds of the agency.
Added by Acts 1980, No. 707, §1, eff. July 24, 1980; Acts 2011, No. 408, §3, eff. midnight, June 30, 2012.
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