New York § 463 Agreement with the state

New York Statutes

§ 463 — Agreement with the state

New York § 463

Law EDNEducation

Title 1General Provisions Article 1 Short Title and Definitions (§§

Art. 10New York City Educational Construction Fund

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Bluebook

N.Y. Education § 463 (2026).

Text

  § 463. Agreement with the state.  The state does hereby pledge to and\nagree with the holders of any notes or bonds issued under this article,\nthat the state will not limit or alter the rights hereby vested in the\nfund to fulfill the terms of any agreements made with the holders\nthereof, or in any way impair the rights and remedies of such holders\nuntil such notes or bonds, together with the interest thereon, with\ninterest on any unpaid installments of interest, and all costs and\nexpenses in connection with any action or proceeding by or on behalf of\nsuch holders, are fully met and discharged.  The fund is authorized to\ninclude this pledge and agreement of the state in any agreement with the\nholders of such notes or bonds.\n

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§ 463. Agreement with the state. The state does hereby pledge to and\nagree with the holders of any notes or bonds issued under this article,\nthat the state will not limit or alter the rights hereby vested in the\nfund to fulfill the terms of any agreements made with the holders\nthereof, or in any way impair the rights and remedies of such holders\nuntil such notes or bonds, together with the interest thereon, with\ninterest on any unpaid installments of interest, and all costs and\nexpenses in connection with any action or proceeding by or on behalf of\nsuch holders, are fully met and discharged. The fund is authorized to\ninclude this pledge and agreement of the state in any agreement with the\nholders of such notes or bonds.\n