Legislation
SECTION 2061
Agreements of the state
Public Authorities (PBA) CHAPTER 43-A, ARTICLE 8, TITLE 14
* § 2061. Agreements of the state. The state of New York does pledge
to and agree with the holders of the bonds that the state will not limit
or impair the rights hereby vested in the authority to acquire,
construct, maintain, reconstruct and operate the project, 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 paid 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.
* NB Authority dissolved September 1, 1977
to and agree with the holders of the bonds that the state will not limit
or impair the rights hereby vested in the authority to acquire,
construct, maintain, reconstruct and operate the project, 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 paid 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.
* NB Authority dissolved September 1, 1977