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This entry was published on 2014-09-22
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SECTION 2799-PPP
Agreement with city
Public Authorities (PBA) CHAPTER 43-A, ARTICLE 8, TITLE 34
§ 2799-ppp. Agreement with city. The city is authorized to pledge to
and agree with the holders of any bonds issued by the authority pursuant
to this title and with those persons or public corporations who may
enter into contracts with the authority pursuant to the provisions of
this title that the city 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 agreements made with the
holders of the bonds or with any public corporation or person with
reference to such project or part thereof, or in any way 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.