Title 20, Chapter 3, Section 210
( 20-3-210)
While any of the revenue bonds issued by the authority remain
outstanding, the powers, duties, or existence of the authority or of
any of its officers shall not be diminished or impaired in any
manner that will affect adversely the interest and rights of the
holders of such revenue bonds. This article shall be for the benefit
of the state, the authority, and the holders of any such revenue
bonds and, upon the issuance of the revenue bonds as provided in
this article, such provisions shall constitute a contract with the
holders of such revenue bonds. The provisions of any bond
resolution, indenture, or trust agreement shall be a contract with
every holder of such revenue bonds; and the duties of the authority
under any such bond resolution, indenture, or trust agreement shall
be enforceable by any bondholder by mandamus or other appropriate
action or proceeding at law or in equity. |