Legislation
SECTION 2041-S
Agreements with the participating counties
Public Authorities (PBA) CHAPTER 43-A, ARTICLE 8, TITLE 13-AA
§ 2041-s. Agreements with the participating counties. Each
participating county is authorized to pledge to and agree with the
holders of any bonds issued by the authority pursuant to this title that
the county 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 be issued, to establish and collect
rates, rents, fees and other charges referred to in this title, to
fulfill the terms of any agreements made with or for the benefit of the
holders of bonds or with any public corporation or person 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 the
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.
participating county is authorized to pledge to and agree with the
holders of any bonds issued by the authority pursuant to this title that
the county 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 be issued, to establish and collect
rates, rents, fees and other charges referred to in this title, to
fulfill the terms of any agreements made with or for the benefit of the
holders of bonds or with any public corporation or person 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 the
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.