N.Y. Public Authorities Law § 1133*2: Agreement of the state

* § 1133. Agreement of the state. The state does hereby pledge to and

agree with the holders of any bonds issued by the authority pursuant to

this title that the state will not alter or limit the rights hereby

vested in the authority to purchase, construct, maintain, operate,

repair, improve, increase, enlarge, extend, reconstruct, renovate,

rehabilitate 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 lease payments, rates, fees and other charges referred to in

this title and to fulfill the terms of any agreement made with or for

the benefit of 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 bondholders, until the bonds,

together with the 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 such holders, are fully met

and discharged; provided, however, that this section shall not be

construed to limit in any manner the ability of the state to alter,

amend or enforce laws or regulations to protect public health and the

environment. The authority is authorized to include this pledge and

agreement of the state in any agreement with bondholders.

* NB There are 2 § 1133's