52:27D-489k7 Pledge, covenant, agreement by State with bondholders.
147 words·~1 min read·
/nj/title-52/chapter-27d/52-27d-489k7·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
7. The State of New Jersey does hereby pledge to and covenant and agree with the holders of any bonds issued pursuant to sections 1 through 11 of P.L.2018, c.97 (C.52:27D-489k1 et seq.) that the State will not limit or alter the terms of any agreement, ordinance, or resolution made in connection with the security for and the issuance and sale of any bonds, so as to in any way impair the rights or remedies of such holders, and will not modify in any way the exemption from taxation provided for in sections 1 through 11 of P.L.2018, c.97 (C.52:27D-489k1 et seq.) until the bonds, together with interest thereon, with interest on any unpaid installments of interest, and all costs and expenses in connection with any action or proceeding by or on behalf of such holders, are fully met and discharged or provided for.
L.2018, c.97, s.7.