N.Y. Public Authorities Law § 1199-nn*2: Agreement of the state

* § 1199-nn. 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 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. The authority is authorized to include this pledge and

agreement of the state in any agreement with bondholders.

* NB There are 2 § 1199-nn's