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This entry was published on 2014-09-22
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SECTION 830
Agreement of the state
Public Authorities (PBA) CHAPTER 43-A, ARTICLE 4, TITLE 2
§ 830. Agreement of the state. The state of New York does pledge and
agree with the holders of any bonds that are issued under this title
that the state will not authorize the construction of any market
facilities which will be competitive with any market facilities owned or
operated by the authority or within a reasonable sphere of operation and
extension of market facilities by the authority, nor will it limit or
alter the rights hereby vested in the authority to establish and collect
such rentals and license fees as may be necessary or convenient to
produce sufficient revenues to meet the expense of maintenance and
operation of the market facilities 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 bond holders, until the bonds, together with
interest thereon, with interest on any unpaid instalments of interest,
and all costs and expenses in connection with any actions or proceedings
by or on behalf of the bond holders, are fully met and discharged.