New York Laws
Article 12 - New York City Housing Development Corporation
657 - Agreement With the State.

§ 657. 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
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 met and discharged. The 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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