New York § 1120-M Agreement of the state

New York Statutes

§ 1120-M — Agreement of the state

New York § 1120-M

Law PBAPublic Authorities

Title 6-BClifton Park Water Authority

Art. 5Public Utility Authorities

This text of New York § 1120-M (Agreement of the state) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.Y. Public Authorities § 1120-M (2026).

Text

  § 1120-m. Agreement of the state. The state does hereby pledge to and\nagree with the holders of any bonds issued by the authority pursuant to\nthis title that the state will not alter or limit the rights hereby\nvested in the authority to negotiate, purchase, construct, maintain,\noperate, repair, improve, increase, enlarge, extend, reconstruct,\nrenovate, rehabilitate or dispose of any project or any part or parts\nthereof, for which bonds of the authority shall have been issued, to\nestablish and collect rates, rents, fees and other charges referred to\nin this title and to fulfill the terms of any agreement made with or for\nthe benefit of the holders of the bonds or with any public corporation\nor person with reference to the bondholders, until the bonds, together\nwith the interest

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§ 1120-m. Agreement of the state. The state does hereby pledge to and\nagree with the holders of any bonds issued by the authority pursuant to\nthis title that the state will not alter or limit the rights hereby\nvested in the authority to negotiate, purchase, construct, maintain,\noperate, repair, improve, increase, enlarge, extend, reconstruct,\nrenovate, rehabilitate or dispose of any project or any part or parts\nthereof, for which bonds of the authority shall have been issued, to\nestablish and collect rates, rents, fees and other charges referred to\nin this title and to fulfill the terms of any agreement made with or for\nthe benefit of the holders of the bonds or with any public corporation\nor person with reference to the bondholders, until the bonds, together\nwith the interest thereon, including interest on any unpaid installments\nof interest, 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 authority is authorized to include this pledge and\nagreement of the state in any agreement with the bondholders.\n