| | |
State, may properly and legally invest funds, including capital, | | in the control of or belonging to those investors.__The | | securities are also, by this Act, made securities that may | | properly and legally be deposited with and received by public | | officers and bodies of the State or any agency or political | | subdivision of the State and municipalities and public | | corporations for any purpose for which the deposit of securities | | of bonds or other obligations of the State may be authorized by | | law. |
|
| | | A member of the board may not participate in any decision on | | any contract entered into by the board under this Act if that | | member has any interest, direct or indirect, in any firm, | | partnership, corporation or association that may be party to | | the contract.__The interest must be disclosed to the board in | | writing and must be set forth in the minutes of the board. |
|
| | | §6423.__Actions against board |
|
| | | A member of the board, while acting within the scope of the | | authority of this Act, may not be subject to any personal | | liability resulting from the exercise of any of the board's | | purposes or powers. |
|
| | | §6424.__Contract of State |
|
| | | The State pledges and agrees with the holders of securities | | that the State will not limit or alter the rights vested in | | the board to acquire, construct, reconstruct, equip and | | operate a project, projects or part of any project and related | | facilities; to establish and collect fees, charges, rentals | | and other charges referred to in this Act; and to fulfill the | | terms of any agreements made with the holders of the | | securities.__The State also pledges and agrees that it will | | not impair the rights and remedies of the holders of | | securities until the securities, together with interest on | | securities, interest on any unpaid installments on interest | | and all costs and expenses in connection with any action or | | proceeding by or on behalf of the holders of securities are | | fully met and discharged. |
|
| | | §6425.__Credit of State not pledged |
|
| | | Securities issued under this Act do not constitute or create | | any debt or debts, liability or liabilities on behalf of the | | State or of any political subdivision of the State other than | | the board or a loan of the credit of the State or a pledge of | | the faith and credit of the State or of any political | | subdivision other than the board, but are payable solely from | | the funds provided for that payment.__A security issued under | | this Act must |
|
|
