Idaho State Statutes - Idaho Attorney Directory

The state does hereby pledge to and
agree with the holders of any bonds, notes and other obligations issued under
this act, and with those parties who may enter into contracts with the
authority pursuant to the provisions of this act, that the state will not
limit, alter, restrict or impair the rights hereby vested in the authority to
acquire, construct, reconstruct, maintain and operate any facility as defined
in this act or to establish, revise, charge and collect rates, rents, fees and
other charges as may be convenient or necessary to produce sufficient revenues
to meet the expenses of maintenance and operation thereof and to fulfill the
terms of any agreements made with the holders of bonds, notes or other
obligations authorized and issued by this act, and with the parties who may
enter into contracts with the authority pursuant to this act, or in any way
impair the rights or remedies of the holders of such bonds, notes or other
obligations of such parties until the bonds, notes and such other obligations,
together with interest thereon, with interest on any unpaid installment 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 and
such contracts are fully performed on the part of the authority. Nothing in
this act precludes such limitation or alteration if and when adequate
provision is made by law for the protection of the holders of such bonds,
notes or other obligations of the authority or those entering into such
contracts with the authority. The authority is authorized to include this
pledge and undertaking for the state in such bonds, notes or other obligations
and in such contracts.

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