New York Laws
Title 13-H - Eastern Rensselaer County Solid Waste Management Authority
2050-MM - Agreement With the State.

§ 2050-mm. Agreement with the state. The state does hereby pledge to
and agree with the holders of any bonds issued by the authority pursuant
to this title that the state will not alter or limit the rights hereby
vested in the authority to purchase, construct, own and operate,
maintain, repair, improve, increase, enlarge, extend, reconstruct,
renovate, rehabilitate or dispose of any project, or any part or parts
thereof, for which bonds of the authority shall have been issued, to
establish and collect rates, rents, fees and other charges referred to
in this title, to fulfill the terms of any agreement made with or for
the benefit of the holders of bonds or with any public corporation or
person with reference to such project or part thereof, or in any way
impair the rights and remedies of bondholders, until the bonds, together
with the interest thereon, including interest on any unpaid installments
of interest, and all costs and expenses in connection with any action or
proceeding by or on behalf of such holders, are fully met and
discharged; provided, however, that this section shall not be construed
to limit in any manner the ability of the state to alter, amend, or
enforce laws or regulations to protect public health and the
environment. The authority is authorized to include this pledge and
agreement of the state in any agreement with bondholders.