Pledge and agreement of state regarding rights and remedies of the registered owners of the bonds

The state hereby covenants with the registered owners of any bonds of the authority that so long as the bonds are outstanding and unpaid, the state will not limit or alter the rights and powers of the authority under this chapter to fulfill the terms of any covenants made with, or for the benefit of, the registered owners of the bonds, or in any other way impair the rights and remedies of the registered owners of the bonds, unless provision for full payment of such bonds, by escrow or otherwise, has been made pursuant to the terms of the bonds or the resolution, trust indenture or security instrument securing the bonds. The authority is authorized to include this pledge and agreement of the state in any agreement with bondholders.