New York § 1199-MM Agreement with the state

New York Statutes

§ 1199-MM — Agreement with the state

New York § 1199-MM

Law PBAPublic Authorities

Title 8-EWayne County Water and Sewer Authority

Art. 5Public Utility Authorities

This text of New York § 1199-MM (Agreement with 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 § 1199-MM (2026).

Text

  * § 1199-mm. Agreement with the state. The state does hereby pledge to\nand agree with the holders of any bonds issued by the authority pursuant\nto this title that the state will not alter or limit the rights hereby\nvested in the authority to purchase, construct, maintain, operate,\nrepair, improve, increase, enlarge, extend, reconstruct, renovate,\nrehabilitate or dispose of any project, or any part or parts thereof,\nfor which bonds of the authority shall have been issued, to establish\nand collect rates, rents, fees and other charges referred to in this\ntitle and to fulfill the terms of any agreement made with or for the\nbenefit of the holders of the bonds or with any public corporation or\nperson with reference to such project or part thereof, or in any way\nimpair the rights and

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* § 1199-mm. Agreement with the state. The state does hereby pledge to\nand agree with the holders of any bonds issued by the authority pursuant\nto this title that the state will not alter or limit the rights hereby\nvested in the authority to purchase, construct, maintain, operate,\nrepair, improve, increase, enlarge, extend, reconstruct, renovate,\nrehabilitate or dispose of any project, or any part or parts thereof,\nfor which bonds of the authority shall have been issued, to establish\nand collect rates, rents, fees and other charges referred to in this\ntitle and to fulfill the terms of any agreement made with or for the\nbenefit of the holders of the bonds or with any public corporation or\nperson with reference to such project or part thereof, or in any way\nimpair the rights and remedies of the bondholders, until the bonds,\ntogether with the interest thereon, including interest on any unpaid\ninstallments of interest, and all costs and expenses in connection with\nany action or proceeding by or on behalf of such holders, are fully met\nand discharged. The authority is authorized to include this pledge and\nagreement of the state in any agreement with bondholders.\n * NB There are 2 § 1199-mm's\n