New York Laws
Title 5 - Long Island Market Authority
911 - Agreement With State.

§ 911. Agreement with state. The state does hereby pledge to and agree
with the holders of any bonds issued by the authority pursuant to this
title and with those persons or public authorities who may enter into
contracts with the authority pursuant to the provisions of the title
that the state will not alter, limit or impair the rights hereby vested
in the authority to purchase, construct, own and operate, maintain,
repair, improve, reconstruct, renovate, rehabilitate, enlarge, increase
and extend, 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 contracts or agreements made with or for the
benefit of the holders of bonds or with any person or public authority
with reference to such project or part thereof, or in any way to impair
the rights and remedies of the holders of bonds, until the bonds,
together with 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 the holders of bonds, are
fully met and discharged and such contracts are fully performed on the
part of the authority. The authority is authorized to include this
pledge and agreement of the state in any agreement with the holders of
bonds.