New York § 1207-D Agreement of the state

New York Statutes

§ 1207-D — Agreement of the state

New York § 1207-D

Law PBAPublic Authorities

Title 9New York City Transit Authority

Art. 5Public Utility Authorities

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Bluebook

N.Y. Public Authorities § 1207-D (2026).

Text

  § 1207-d. Agreement of the state. The state of New York does hereby\npledge to and agree with the holders of the bonds and notes of the\nauthority that the state will not limit or alter the rights and powers\nhereby vested in the authority by this title to fulfill the terms of any\ncontract made by the authority with such holders or in any way impair\nthe rights and remedies of such holders until such bonds and notes,\ntogether with interest thereon, with interest on any unpaid installments\nof interest, and all costs and expenses in connection with any action or\nproceedings 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 contract with the holders of bonds or\nnotes.\n

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§ 1207-d. Agreement of the state. The state of New York does hereby\npledge to and agree with the holders of the bonds and notes of the\nauthority that the state will not limit or alter the rights and powers\nhereby vested in the authority by this title to fulfill the terms of any\ncontract made by the authority with such holders or in any way impair\nthe rights and remedies of such holders until such bonds and notes,\ntogether with interest thereon, with interest on any unpaid installments\nof interest, and all costs and expenses in connection with any action or\nproceedings 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 contract with the holders of bonds or\nnotes.\n