New Jersey § 40a:12a-71

§ 40a:12a-71.

The State of New Jersey does hereby pledge to and covenant and agree with the holders

of any bonds issued pursuant to the “Redevelopment Area Bond Financing Law,” P.L.2001, c. 310 ( C.40A:12A-64 et seq. ) that the State will not limit or alter the terms of any agreement, ordinance or

resolution made in connection with the security for and the issuance and sale of any

bonds, so as to in any way impair the rights or remedies of such holders, and will

not modify in any way the exemption from taxation provided for in the “Redevelopment

Area Bond Financing Law,” P.L.2001, c. 310 ( C.40A:12A-64 et seq. ), until the bonds, together with interest thereon, with interest on any unpaid installments

of interest, and all costs and expenses in connection with any action or proceeding

by or on behalf of such holders, are fully met and discharged or provided for.