§ 1555 — Agreements of the village

New York § 1555

• Jurisdiction: New York
• Law PBA: Public Authorities
• Title 7: Tuckahoe Parking Authority
• Art. 7: Parking Authorities

Text

* § 1555. Agreements of the village. 1. The village of Tuckahoe is\nauthorized to pledge to and agree with the holders of the bonds that the\nvillage will not limit or alter the rights hereby vested in the\nauthority to acquire, construct, maintain, reconstruct and operate the\nproject or projects, to establish and collect rentals, fees and other\ncharges and to fulfill the terms of any agreements made with the holders\nof the bonds, or in any way impair the rights and remedies of the\nbondholders, until the bonds, together with interest thereon, with\ninterest on any unpaid installments of interest and all costs and\nexpenses in connection with any action or proceeding by or on behalf of\nthe bondholders, are fully met and discharged.\n 2. The authority is hereby authorized, in its discretion, for and on\nbehalf of itself and the village of Tuckahoe to covenant and agree with\nthe holders of the bonds, with such exceptions and limitations as it may\ndeem in the public interest, that no public parking areas except those\nacquired and operated by the authority will be constructed or operated\nin the village by the village, or by any public benefit or other\ncorporation the members or some of which are elected or are appointed by\nvillage officials, until either\n (a) the bonds, together with interest thereon, interest on any unpaid\ninstallments of interest and all costs and expenses in connection with\nany action or proceeding by or on behalf of the bondholders are fully\nmet and discharged or\n (b) principal or interest of any of the bonds shall be overdue and\nunpaid for a period of three years or more.\n * NB Dissolved December 1977\n * NB There are 2 § 1555's\n