Legislation
SECTION 14
Agreement of the state
New York City Health and Hospitals Corporation Act 1016/69 (HHC) CHAPTER 1016
§ 14. Agreement of the state. The state of New York does pledge to and
agree with the holders of any and all bonds and notes of the corporation
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, or in any way impair the rights and remedies of such holders
until the bonds and notes, together with the interest thereon, 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 bonds or notes.
agree with the holders of any and all bonds and notes of the corporation
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, or in any way impair the rights and remedies of such holders
until the bonds and notes, together with the interest thereon, 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 bonds or notes.