2011 Vermont Code
Title 30 Public Service
Chapter 84 VERMONT PUBLIC POWER SUPPLY AUTHORITY
§ 5035 Pledge of the state
§ 5035. Pledge of the state
The state does hereby pledge to and agree with the holders of the notes and bonds issued under this chapter that the state will not limit or restrict the rights hereby vested in the authority to perform its obligations and to fulfill the terms of any agreement made with the holders of its bonds or notes. Neither will the state in any way impair the rights and remedies of the holders until the notes and bonds, together with interest on them, and interest on any unpaid installments of interest, are fully met, paid and discharged. The authority is authorized to execute this pledge and agreement of the state in any agreement with the holders of the notes or bonds. (Added 1979, No. 78, { 3.)
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