N.Y. Public Authorities Law § 3638: Agreement with state

§ 3638. Agreement with state. The state does hereby pledge to and

agree with the holders of any bonds issued by the corporation pursuant

to this title and with those persons or public corporations who may

enter into contracts with the corporation pursuant to the provisions of

this title that the state will not alter, limit, or impair the rights

hereby vested in the corporation 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 corporation 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 contracts or

agreements made with or for the benefit of the holders of bonds or with

any person or public corporation with reference to such project or part

thereof, or in any way 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 and such contracts

are fully performed on the part of the corporation. The corporation is

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

agreement with the holders of bonds.