N.Y. Public Authorities Law § 2799-jj: Agreement with the city

§ 2799-jj. Agreement with the city. The city is authorized to pledge

and agree with the holders of any issue of bonds and/or bond

anticipation notes secured by such a pledge that the city will not limit

or alter the rights hereby vested in the authority to fulfill the terms

of any agreements made with such holders pursuant to this title, or in

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

for such bonds and/or bond anticipation notes until such bonds and/or

bond anticipation notes, together with the interest thereon and all

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

behalf of such holders, are fully paid and discharged. Nothing contained

in this section shall be deemed to restrict any right the city may have

to amend, modify or otherwise alter local laws imposing or relating to

the taxes payable to the authority pursuant to subsection (d) of section

eight hundred seventy-three or section thirteen hundred thirteen of the

tax law so long as, after giving effect to such amendment, modification

or other alteration, the amount of tax revenues projected by the mayor

to be available to the authority during each of its fiscal years

following the effective date of such amendment, modification or other

alteration shall be not less than one hundred fifty percent of maximum

annual debt service on authority bonds then outstanding.