Sec. 37.15.580. Pledge of the state.
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Sec. 37.15.580. Pledge of the state.
The state pledges to and agrees with the holders of bonds issued by the committee under AS 37.15.560 — 37.15.605 and under AS 46.03.032 or 46.03.036, as appropriate, that the state will not limit or alter the rights and powers vested in the committee by AS 37.15.560 — 37.15.605 and by AS 46.03.032 or 46.03.036, as appropriate, to fulfill the terms of any contract made by the committee with the holders, or in any way impair the rights and remedies of the holders until the principal amount of the bonds, together with the interest on them with interest on unpaid installments of interest, are fully met and discharged.
The committee may include this pledge and agreement of the state in a contract with the holders.