N.Y. Public Authorities Law § 1690: Contract of the state

§ 1690. Contract of the state. The state of New York does pledge to

and agree with the holders of the bonds that the state will not limit or

alter the rights hereby vested in the authority to acquire, construct,

reconstruct, equip and operate dormitories and facilities, to establish

and collect rentals and other charges referred to in this title and to

fulfill the terms of any agreements made with the holders of the bonds,

or in any way impair the rights and remedies of the holders of such

obligations until the bonds, together with interest thereon, interest on

any unpaid installments on 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.