Alaska Statutes 37.15.580 – Pledge of the state
Terms Used In Alaska Statutes 37.15.580
- Contract: A legal written agreement that becomes binding when signed.
- state: means the State of Alaska unless applied to the different parts of the United States and in the latter case it includes the District of Columbia and the territories. See Alaska Statutes 01.10.060
The state pledges to and agrees with the holders of bonds issued by the committee under Alaska Stat. § 37.15.560 – 37.15.605 and under Alaska Stat. § 46.03.032 or 46.03.036, as appropriate, that the state will not limit or alter the rights and powers vested in the committee by Alaska Stat. § 37.15.560 – 37.15.605 and by Alaska Stat. § 46.03.032 or 46.03.036, as appropriate, to fulfill the terms of any contract made by the committee with the holders, or in any way impair the rights and remedies of the holders until the principal amount of the bonds, together with the interest on them with interest on unpaid installments of interest, are fully met and discharged. The committee may include this pledge and agreement of the state in a contract with the holders.