Sec. 7-499. Agreement with bond holders.
Sec. 7-499. Agreement with bond holders. The state does hereby pledge to and
agree with the holders of any notes or bonds that the state will not limit or alter the rights
hereby vested in a municipality to fulfill the terms of any agreements made with said
holders thereof, or in any way impair the rights and remedies of such holders until
such notes and bonds, together with the 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. A municipality
is authorized to include this pledge and agreement of the state in any agreement with
the holders of such notes or bonds.
(July Sp. Sess. P.A. 75-2, S. 20, 25.)