Right to performance of covenants and pledges

The holders of all bonds of the authority and all persons who may hereafter purchase the bonds or to whom the authority has incurred a payment obligation under any agreement entered into in connection with any bond have, and are hereby declared to have, a vested right in the performance of the covenants and pledges contained in this chapter, and the performance of the duties imposed upon any officer or member of the authority by or pursuant to this chapter may be enforced by the holder of any such bond subject to any limitation imposed on the right to do so pursuant to § 54-8-104(k)(15) or other payment obligation by appropriate proceedings.