The state does hereby pledge to and agree with the holders of any bonds issued by
the authority pursuant to this title and with those persons or public corporations
who may enter into contracts with the authority pursuant to the provisions of this
title that the state will not alter, limit or impair the rights hereby vested in the
authority to purchase, construct, own and operate, maintain, repair, improve, reconstruct,
renovate, rehabilitate, enlarge, increase and extend, or dispose of the auditorium,
or any part or parts thereof for which bonds of the authority shall have been issued,
to establish and collect rates, rents, fees and other charges referred to in this
title, to fulfill the terms of any contracts or agreements made with or for the benefit
of the holders of bonds or with any person or public corporation with reference to
such project or part thereof, or in any way to impair the rights and remedies of the
holders of bonds, until the bonds, together with interest thereon, including interest
on any unpaid installments of interest, and all costs and expenses in connection with
any action or proceeding by or on behalf of the holders of bonds, are fully met and
discharged and such contracts are fully performed on the part of the authority. The authority is authorized to include this pledge and agreement of the state in
any agreement with the holders of bonds.
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