New Jersey § 58:11b-14

§ 58:11b-14.

The State does pledge to and covenant and agree with the holders of any bonds, notes

or other obligations of the trust issued pursuant to authorization of P.L.1985, c.

334 ( C.58:11B-1 et seq. ), P.L.1997, c. 224 ( C.58:11B-10.1 et al.), or sections 22 and 34 through 38 of P.L.2016, c. 56 ( C.58:11B-10.3 through C.58:11B-10.5 , C.58:11B-20.2 , C.58:11B-22.3 , and C.58:11B-22.4 ) that the State shall not limit or alter the rights or powers vested in the trust

to perform and fulfill the terms of any agreement made with the holders of the bonds,

notes or other obligations or to fix, establish, charge and collect any rents, fees,

rates, payments or other charges as may be convenient or necessary to produce sufficient

revenues to meet all expenses of the trust and to fulfill the terms of any agreement

made with the holders of bonds, notes or other obligations, including the obligations

to pay the principal of and interest and premium on those bonds, notes or other obligations,

with interest on any unpaid installments of interest, and all costs and expenses in

connection with any action or proceedings by or on behalf of the holders, and shall

not limit or alter the rights and powers of any local government unit , public water utility, or other person to pay and perform its obligations owed to the trust in connection with loans received

from the trust, until the bonds, notes and other obligations of the trust, together

with interest thereon, are fully met and discharged or provided for.