While any of the bonds issued by the authority remain outstanding, the powers, duties,
or existence of the authority or of its officers, employees, or agents or of any department,
board, commission, or agency of the state shall not be diminished or impaired in any
manner that will affect adversely the interests and rights of the holders of such
bonds; and no other entity, department, agency, or authority will be created which
will compete with the authority to such an extent as to affect adversely the interests
and rights of the holders of the bonds, nor will the state itself so compete with
the authority. This article and Article 1 of this chapter shall be for the benefit of the state,
the authority, and the holders of any such bonds and, upon the issuance of bonds under
the provisions hereof, shall constitute a contract with the holders of the bonds.
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