* § 1560. Agreements of the village. 1. The village of Endicott is
authorized to pledge to and agree with the holders of the bonds that the
village will not limit or alter the rights hereby vested in the
authority to acquire, construct, maintain, reconstruct and operate the
project or projects, to establish and collect rentals, fees and other
charges and to fulfill the terms of any agreements made with the holders
of the bonds, or in any way impair the rights and remedies of the
bondholders, until the bonds, together with 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
the bondholders, are fully met and discharged.

2. The authority is hereby authorized, in its discretion, for and on
behalf of itself and the village of Endicott to covenant and agree with
the holders of the bonds, with such exceptions and limitations as it may
deem in the public interest, that no public parking areas except those
acquired and operated by the authority will be constructed or operated
in the village by the village, or by any public benefit or other
corporation the members or some of which are elected or are appointed by
village officials, until either (a) the bonds, together with interest
thereon, 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 bondholders are fully met and discharged or (b) principal or
interest of any of the bonds shall be overdue and unpaid for a period of
three years or more.

* NB Dissolved December 31, 1977

* NB There are 2 § 1560's