New York Laws
Title 2 - General Provisions Relating to Municipal Assistance Corporations
3015 - Agreement With the State.

§ 3015. Agreement with the state. The state does hereby pledge to and
agree with the holders of any notes or bonds issued by a corporation
under this act that the state will not limit or alter the rights hereby
vested in such corporation to fulfill the terms of any agreements made
with the said holders thereof, or in any way impair the rights and
remedies of such holders until such notes and bonds together with the
interest thereon, with 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 paid and discharged. A
corporation 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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