N.Y. Public Authorities Law § 1599-kkk*2: Agreements of the city

* § 1599-kkk. Agreements of the city. 1. The city of Jamestown is

authorized to pledge to and agree with the holders of the bonds that the

city will not limit or alter the rights hereby vested in the authority

to acquire, construct, maintain, reconstruct and operate the project or

projects, to establish and collect rentals, fees and other charges and

to fulfill the terms of any agreements made with the holders of bonds or

in any way impair the rights and remedies of the bondholders, until the

bonds, together with 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 the bondholders, are fully

met and discharged.

2. The authority is hereby authorized, in its discretion, for and on

behalf of itself and the city of Jamestown, to covenant and agree with

the holders of the bonds, with such exceptions and limitations as it may

deem in the public interest, that no public parking areas except those

acquired and operated by the authority will be constructed or operated

in the city by the city, or by any public benefit or other corporation

the members or some of which are elected or are appointed by city

officials, except that meters may be installed and operated on public

streets of the city, until either (a) the bonds, together with interest

thereon, interest on any unpaid installments of interest and all costs

and expenses in connection with any action or proceeding by or on behalf

of the bondholders are fully met and discharged or (b) principal or

interest of any of the bonds shall be overdue and unpaid for a period of

three years or more.

* NB Authority ceased to exist 04/01/1977

* NB There are 2 § 1599-kkk's