New York Laws
Title 11-C - Capital District Transportation Authority
1312 - Agreement of the State.

§ 1312. Agreement of the state. The state does hereby pledge to and
agree with the holders of any notes or bonds issued under this title,
that the state will not limit or alter the rights hereby vested in the
authority to fulfill the terms of any agreements made with the holders
thereof, or in any way impair the rights and remedies of such holders
until such notes or bonds, together with the interest thereon, with
interest on any unpaid installments of interest, and all costs and
expenses for which the authority is liable in connection with any action
or proceeding by or on behalf of such holders, are fully met and
discharged. The authority is authorized to include this pledge and
agreement of the state in any agreement with the holders of such notes
or bonds.

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