28-7658. Agreement of state
120 words·~1 min read·
/az/title-28/28-7658A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. This state pledges to and agrees with the holders of the bonds secured by bridge construction revenues and highway improvement revenues that it will not limit, alter or impair the rights vested in a county under this article to receive bridge construction revenues or highway improvement revenues, as applicable, and as necessary to produce sufficient revenue to fulfill the terms of any intergovernmental agreements made with the county, or in any way impair the rights and remedies of the bondholders to receive the necessary revenues, until all the applicable bonds issued under this article are fully met and discharged.
B. The county may include this pledge and undertaking in its resolutions and indentures securing the bonds under this article.