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This entry was published on 2014-09-22
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Agreements of the state
Public Authorities (PBA) CHAPTER 43-A, ARTICLE 5, TITLE 7
§ 1160. Agreements of the state. The state of New York does pledge to
and agree with the holders of the bonds or notes that the state will not
limit or alter the rights hereby vested in the authority to acquire,
construct, maintain, operate, reconstruct and improve the properties, to
establish and collect the revenues, rates, rentals, fees and other
charges referred to in this title and to fulfill the terms of any
agreements made with the holders of the bonds or notes, or in any way
impair the rights and remedies of such bondholders or noteholders, until
the bonds or notes together with interest thereon, interest on any
unpaid installments of interest, and all costs and expenses in
connection with any action or proceedings by or on behalf of the
bondholders or noteholders are fully met and discharged.