§ 1193 — Obligations of contracts not impaired

§ 1193. Obligations of contracts not impaired. From and after the\nfiling with the common council of the city and the secretary of state of\nthe state of New York of the certificate of completion of the project,\nas provided in section fourteen hundred four of this chapter, all\ncontracts of the city in respect of the existing sewer system or any\npart thereof shall be binding upon the authority with the same force and\neffect as though such contracts had been expressly assumed by the\nauthority and such contracts shall inure to the benefit of the authority\nwith the same force and effect as though such contracts had been\nexpressly assigned to the authority. Moneys to provide for the payment\nof notes, bonds or other obligations issued by the city in relation to\nthe existing sewer system or any part thereof, shall be raised,\ncollected and paid by the city as though this law had not been enacted,\nand the authority shall not be liable thereon.\n