New York Laws
Article 10 - New York City Educational Construction Fund
463 - Agreement With the State.

§ 463. Agreement with the state. The state does hereby pledge to and
agree with the holders of any notes or bonds issued under this article,
that the state will not limit or alter the rights hereby vested in the
fund 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 in connection with any action or proceeding by or on behalf of
such holders, are fully met and discharged. The fund 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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