N.Y. Public Authorities Law § 1198-m: Agreement with the state

§ 1198-m. Agreement with 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 fulfill the terms of any agreement made with

or for the benefit of the holders of bonds or in any way impair the

rights and remedies of bondholders until the bonds together with the

interest thereon, with 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

authority is authorized to include this pledge and agreement of the

state in any agreement with bondholders.