§ 7. Notwithstanding any provision of this or any other article of
this constitution, the legislature may by law, which shall take effect
without submission to the people, make or authorize making the state
liable for the payment of the principal of and interest on obligations
of the port of New York authority issued pursuant to legislation
heretofore or hereafter enacted, to purchase or refinance the purchase
of, or to repay advances from this state made for the purpose of
purchasing, railroad passenger cars, including self-propelled cars, and
locomotives and other rolling stock used in passenger transportation,
for the purpose of leasing such cars to any railroad transporting
passengers between municipalities in the portion of the port of New York
district within the state, the majority of the trackage of which within
the port of New York district utilized for the transportation of
passengers shall be in the state; provided, however, that the total
amount of obligations with respect to which the state may be made liable
shall not exceed one hundred million dollars at any time, and that all
of such obligations shall be due not later than thirty-five years after
the effective date of this section.

To the extent payment is not otherwise made or provided for, the
provisions of section sixteen of article seven shall apply to the
liability of the state incurred pursuant to this section, but the powers
conferred by this section shall not be subject to the limitations of
this or any other article.