Section 30963 Of Chapter 4.3. Metropolitan Transportation Commission From California Streets And Highways Code >> Division 17. >> Chapter 4.3.
30963
. (a) The State of California pledges and agrees with the
holders of the bonds issued pursuant to this chapter, and with those
parties who may enter into contracts with the authority pursuant to
this chapter, that the state will not limit, alter, or restrict the
rights hereby vested in the authority to finance the toll bridge
improvements authorized by this chapter, Chapter 4 (commencing with
Section 30910), or Chapter 4.5 (commencing with Section 31000). The
State of California pledges and agrees not to impair the terms of any
agreements made with the holders of bonds, and with the parties who
may enter into contracts with the authority pursuant to this chapter,
and pledges and agrees not to impair the rights or remedies of the
holders of any revenue bonds or any parties until the bonds, together
with interest, are fully paid and discharged and any contracts are
fully performed on the part of the authority.
(b) Nothing in this section shall be deemed to pledge the full
faith and credit of the State of California.
(c) The authority may include the pledges made pursuant to this
section in its revenue bonds.