N.Y. Public Authorities Law § 2411: Agreement of the state

§ 2411. Agreement of the state. The state of New York does hereby

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

mortgage insurance contract issued under this title that the state will

not limit or alter the rights hereby vested in the agency to fulfill the

terms of any agreements made with the holders thereof, or in any way

impair the rights and remedies of such holders until such bonds or notes

together with the interest thereon, with interest on any unpaid

installments of interest, or insurance contracts 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 agency is authorized to

include this pledge and agreement of the state in any agreement with the

holders of such bonds or notes or insurance contracts.