N.Y. Public Authorities Law § 911: Agreement with state

§ 911. 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 and with those persons or public authorities who may enter into

contracts with the authority pursuant to the provisions of the 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 contracts or agreements made with or for the

benefit of the holders of bonds or with any person or public authority

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 and such contracts are fully performed on the

part of the authority. The authority is authorized to include this

pledge and agreement of the state in any agreement with the holders of

bonds.