New York Laws
Title 1-A - Long Island Power Authority
1020-O - Agreement of the State.

* § 1020-o. Agreement of the state. 1. The state of New York does
hereby pledge to and agree with the holders of any obligations issued
under this title and the parties to any contracts with the authority
hereunder that the state will not limit or alter the rights hereby
vested in the authority until such obligations together with the
interest thereon are fully met and discharged and/or such contracts are
fully performed on the part of the authority, provided that nothing
herein contained shall preclude such limitation or alteration if and
when adequate provision shall be made by law for the protection of the
holders of such obligations of the authority, or those entering into
such contracts with the authority. The authority as agent for the state
is authorized to include this pledge and agreement by the state in all
agreements with the holders of such obligations and in all such
contracts.

2. Nothing in this title shall be construed as diminishing or
enlarging any valid existing rights under any license heretofore issued
pursuant to the provisions of the federal power act.

* NB There are 2 § 1020-o's

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