N.Y. Public Authorities Law § 1020-o: Agreement of the state

* § 1020-o. Agreement of the state. 1. The state of New York does

hereby pledge to and agree with the holders of any obligations issued

under this title and the parties to any contracts with the authority

hereunder that the state will not limit or alter the rights hereby

vested in the authority until such obligations together with the

interest thereon are fully met and discharged and/or such contracts are

fully performed on the part of the authority, provided that nothing

herein contained shall preclude such limitation or alteration if and

when adequate provision shall be made by law for the protection of the

holders of such obligations of the authority, or those entering into

such contracts with the authority. The authority as agent for the state

is authorized to include this pledge and agreement by the state in all

agreements with the holders of such obligations and in all such

contracts.

2. Nothing in this title shall be construed as diminishing or

enlarging any valid existing rights under any license heretofore issued

pursuant to the provisions of the federal power act.

* NB There are 2 § 1020-o's