2013 New Jersey Revised Statutes
Title 52 - STATE GOVERNMENT, DEPARTMENTS AND OFFICERS
Section 52:18A-78.19 - Pledge and covenant not to alter rights and powers
52:18A-78.19. Pledge and covenant not to alter rights and powers
19. The State of New Jersey does hereby pledge to and covenant and agree with the holders of any bonds or notes issued pursuant to authorization of the act that the State will not limit or alter the rights or powers hereby vested in the authority to acquire, construct, maintain, improve, renovate, preserve, repair and operate any project in any way that would jeopardize the interest of the holders, or to perform and fulfill the terms of any agreement made with the holders of the bonds or notes, or to fix, establish, charge and collect such rents, fees, rates, payments, or other charges as may be convenient or necessary to produce sufficient revenues to meet all expenses of the authority and to fulfill the terms of any agreement made with the holders of the bonds and notes, together with 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, until the bonds and notes, together with interest thereon, are fully met and discharged or provided for.
L.1981,c.120,s.19; amended 1992,s.174,s.7.
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