New York Laws
Title 1 - Agencies, Organization and Powers
868 - Agreements of the Municipality and State.

§ 868. Agreements of the municipality and state. The municipality is
authorized to, and the state does hereby, pledge to and agree with the
holders of the bonds or notes that neither the municipality nor the
state, respectively, will limit or alter the rights, hereby vested in
the agency to acquire, construct, reconstruct, improve, maintain, equip
and furnish the project or projects, to establish and collect rentals,
fees and other charges and to fulfill the terms of any agreements made
with the holders of the bonds or notes nor in any way impair the rights
and remedies of the bondholders or noteholders until the bonds or notes,
together with 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 the bondholders or noteholders are fully
met and discharged.

Structure New York Laws