N.Y. Public Authorities Law § 2041-l: Agreement with state

§ 2041-l. Agreement with 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, limit or impair the rights

hereby vested in the authority to purchase, construct, own and operate,

maintain, repair, improve, reconstruct, renovate, rehabilitate, enlarge,

increase and extend, 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, rents, fees and other charges referred to

in this title, to fulfill the terms of any agreements made with or for

the benefit of the holders of bonds or with any public corporation or

person with reference to such project or part thereof, or in any way to

impair the rights and remedies of the holders of bonds, until the bonds,

together with 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 the holders of bonds, are

fully met and discharged, provided, however, that this section shall not

be construed to limit in any manner the ability of the state to alter,

amend or enforce laws or regulations to protect public health and the

environment. The authority is authorized to include this pledge and

agreement of the state in any agreement with the holders of bonds.