Legislation
SECTION 3614
Agreement with towns
Public Authorities (PBA) CHAPTER 43-A, ARTICLE 10-C, TITLE 5
§ 3614. Agreement with towns. The towns are authorized to pledge to
and agree with the holders of any bonds issued by the corporation
pursuant to this title and with those persons or public corporations who
may enter into contracts with the corporation pursuant to the provisions
of this title that the towns will not alter, limit or impair the rights
hereby vested in the corporation to purchase, construct, own and
operate, maintain, repair, improve, reconstruct, renovate, rehabilitate,
enlarge, increase and extend, or dispose of any project, or any part or
parts thereof, for which bonds of the corporation shall have been
issued, to establish, collect and adjust rates, rents, fees and other
charges referred to in this title, to fulfill the terms of any
agreements made with the holders of the bonds or with any public
corporation or person with reference to such project or part thereof, or
in any way impair the rights and remedies of the holders of bonds, until
the bonds, together with interest thereon, including interest on any
unpaid installments of interest, and all costs and expenses in
connection with any action or proceeding by or on behalf of the holders
of bonds, are fully met and discharged and such contracts are fully
performed on the part of the corporation.
and agree with the holders of any bonds issued by the corporation
pursuant to this title and with those persons or public corporations who
may enter into contracts with the corporation pursuant to the provisions
of this title that the towns will not alter, limit or impair the rights
hereby vested in the corporation to purchase, construct, own and
operate, maintain, repair, improve, reconstruct, renovate, rehabilitate,
enlarge, increase and extend, or dispose of any project, or any part or
parts thereof, for which bonds of the corporation shall have been
issued, to establish, collect and adjust rates, rents, fees and other
charges referred to in this title, to fulfill the terms of any
agreements made with the holders of the bonds or with any public
corporation or person with reference to such project or part thereof, or
in any way impair the rights and remedies of the holders of bonds, until
the bonds, together with interest thereon, including interest on any
unpaid installments of interest, and all costs and expenses in
connection with any action or proceeding by or on behalf of the holders
of bonds, are fully met and discharged and such contracts are fully
performed on the part of the corporation.