§ 11 — Agreement with the state

New York § 11

• Jurisdiction: New York
• Law NYP: NYS Project Finance Agency Act7/75

Text

§ 11. Agreement with the state.\n The state does hereby pledge to and agree with the holders of any\nnotes or bonds issued under this act, that the state will not limit or\nalter the rights hereby vested in the agency to fulfill the terms of any\nagreements made with the holders thereof, or in any way impair the\nrights and remedies of such holders until such notes or bonds, together\nwith the interest thereon, with interest on any unpaid installments of\ninterest, and all costs and expenses in connection with any action or\nproceeding by or on behalf of such holders, are fully met and\ndischarged. The agency is authorized to include this pledge and\nagreement of the state in any agreement with the holders of such notes\nor bonds.\n