N.Y. Public Authorities Law § 2715: Agreement of the state

§ 2715. Agreement of the state. The participating counties and any

municipalities within their boundaries are authorized to and the state

does hereby pledge to and agree with the owners of any bonds issued by

the authority, that they will not limit or alter the rights hereby

vested in the authority 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, together with the 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

such holders, are fully met and discharged. The authority is authorized

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

the holders of such bonds.