Minnesota Legislature
Office of the Revisor of Statutes
2007 Minnesota Statutes
This is an historical version of this statute chapter. Also view the most recent published version.
41B.15 STATE PLEDGE AGAINST IMPAIRMENT OF CONTRACTS.
The state pledges and agrees with the holders of any bonds issued under section 41B.08,
that the state will not limit or alter the rights vested in the authority to fulfill the terms of any
agreements made with the bondholders, or in any way impair the rights and remedies of the
holders until the bonds, together with interest on them, 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 the bondholders, are fully met and discharged. The authority may include this pledge and
agreement of the state in any agreement with the holders of bonds issued under section 41B.08.
History: 1986 c 398 art 6 s 15; 1987 c 396 art 1 s 31
The state pledges and agrees with the holders of any bonds issued under section 41B.08,
that the state will not limit or alter the rights vested in the authority to fulfill the terms of any
agreements made with the bondholders, or in any way impair the rights and remedies of the
holders until the bonds, together with interest on them, 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 the bondholders, are fully met and discharged. The authority may include this pledge and
agreement of the state in any agreement with the holders of bonds issued under section 41B.08.
History: 1986 c 398 art 6 s 15; 1987 c 396 art 1 s 31
Official Publication of the State of Minnesota
Revisor of Statutes