N.Y. Public Authorities Law § 1207-d: Agreement of the state

§ 1207-d. Agreement of the state. The state of New York does hereby

pledge to and agree with the holders of the bonds and notes of the

authority that the state will not limit or alter the rights and powers

hereby vested in the authority by this title to fulfill the terms of any

contract made by the authority with such holders or in any way impair

the rights and remedies of such holders until such bonds and notes,

together with interest thereon, with interest on any unpaid installments

of interest, and all costs and expenses in connection with any action or

proceedings 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 contract with the holders of bonds or

notes.