(105 ILCS 5/1E-105)
(This Section scheduled to be repealed in accordance with 105 ILCS 5/1E-165)
Pledge of the State.
The State of Illinois pledges to
and agrees with the holders of Bonds that the State will not limit or
alter the rights and powers vested in the Authority by this Article with
respect to the issuance of obligations so as to impair the terms of any
contract made by the Authority with these holders or in any way impair the
rights and remedies of these holders until the Bonds, together with interest on
the Bonds, interest on any unpaid installments of interest, and all costs and
expenses in connection with any action or
proceedings by or on behalf of these holders, are fully met and
discharged or provisions made for their payment. The Authority is
authorized to include this pledge and agreement of the State in any
resolution or contract with the holders of Bonds.
(Source: P.A. 92-547, eff. 6-13-02