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The Florida Senate

2011 Florida Statutes

Pledge to bondholders not to restrict certain rights of authority.
F.S. 343.57
343.57 Pledge to bondholders not to restrict certain rights of authority.The state pledges to and agrees with the holders of the bonds issued pursuant to this part that the state will not limit or restrict the rights vested in the authority to construct, reconstruct, maintain, and operate any project as defined in this part, to establish and collect such fees or other charges as may be convenient or necessary to produce sufficient revenues to meet the expenses of maintenance and operation of the system, and to fulfill the terms of any agreements made with the holders of bonds authorized by this part. The state further pledges that it will not in any way impair the rights or remedies of the holders of such bonds until the bonds, together with interest thereon, are fully paid and discharged.
History.s. 1, ch. 89-351; s. 7, ch. 2003-159.