New York § 1199-MMMM Agreement with the state

New York Statutes

§ 1199-MMMM — Agreement with the state

New York § 1199-MMMM

Law PBAPublic Authorities

Title 8-GCayuga County Water and Sewer Authority

Art. 5Public Utility Authorities

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Bluebook

N.Y. Public Authorities § 1199-MMMM (2026).

Text

  * § 1199-mmmm. Agreement with the state. The state does hereby pledge\nto and agree with the holders of any bonds issued by the authority\npursuant to this title that the state will not alter or limit the rights\nhereby vested in the authority to purchase, construct, maintain,\noperate, repair, improve, increase, enlarge, extend, reconstruct,\nrenovate, rehabilitate or dispose of any water and sewer project, or any\npart or parts thereof, for which bonds of the authority shall have been\nissued, to establish and collect rates, rents, fees and other charges\nreferred to in this title and to fulfill the terms of any agreement made\nwith or for the benefit of the holders of the bonds or with any public\ncorporation or person with reference to such project or part thereof, or\nin any way imp

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* § 1199-mmmm. Agreement with the state. The state does hereby pledge\nto and agree with the holders of any bonds issued by the authority\npursuant to this title that the state will not alter or limit the rights\nhereby vested in the authority to purchase, construct, maintain,\noperate, repair, improve, increase, enlarge, extend, reconstruct,\nrenovate, rehabilitate or dispose of any water and sewer project, or any\npart or parts thereof, for which bonds of the authority shall have been\nissued, to establish and collect rates, rents, fees and other charges\nreferred to in this title and to fulfill the terms of any agreement made\nwith or for the benefit of the holders of the bonds or with any public\ncorporation or person with reference to such project or part thereof, or\nin any way impair the rights and remedies of the bondholders, until the\nbonds, together with the interest thereon, including interest on any\nunpaid installments of interest, and all costs and expenses in\nconnection with any action or proceeding by or on behalf of such\nholders, are fully met and discharged. The authority is authorized to\ninclude this pledge and agreement of the state in any agreement with\nbondholders.\n * NB There are 2 § 1199-mmmm's\n