The state hereby covenants with the registered owners of bonds of the authority issued pursuant to this chapter, that so long as the bonds are outstanding and unpaid the state will not materially limit or materially alter the rights and powers of the authority under this chapter to conduct the activities referred to herein in any way pertinent to the interests of the bondholders including without limitation the authority’s right to collect revenues and to fulfill the terms of any covenants made with the registered owners of the bonds, or in any other way materially impair the rights and remedies of the registered owners of the bonds, unless provision for full payment of such bonds, by escrow or otherwise, has been made pursuant to the terms of the bonds or the resolution, trust indenture or security instrument securing the bonds.
Miss. Code Ann. § 57-67-31
Obligations of state in connection with bonds
Known as the Mississippi Superconducting Super Collider Act
The act spans §§ 57–57 (20 sections).
Laws, 1987 Ex Sess, ch. 24, § 16, eff from and after passage (approved August 29, 1987
Current official text: Mississippi Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Mississippi statutes; confirm against the official source for the current text. Not legal advice.