11-17-13 - Pledge and undertaking for the state.
11-17-13. Pledge and undertaking for the state.
The state of Utah does hereby pledge to and agree with the holders of any bonds issuedunder this act and with those parties who may enter into contracts with any county or municipalityunder this act, that the state will not alter, impair or limit the rights thereby vested until the bonds,together with applicable interest, are fully met and discharged and such contracts are fullyperformed. Nothing contained in this act shall preclude such alteration, impairment or limitation ifand when adequate provision shall be made by law for the protection of the holders of the bondsor persons entering into contracts with any county or municipality. Each county and municipalityis authorized to include this pledge and undertaking for the state in such bonds or contracts.
Enacted by Chapter 29, 1967 General Session