New York § 2715 Agreement of the state

New York Statutes

§ 2715 — Agreement of the state

New York § 2715

Law PBAPublic Authorities

Title 29Development Authority of the North Country Act

Art. 8Miscellaneous Authorities

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Bluebook

N.Y. Public Authorities § 2715 (2026).

Text

  § 2715. Agreement of the state. The participating counties and any\nmunicipalities within their boundaries are authorized to and the state\ndoes hereby pledge to and agree with the owners of any bonds issued by\nthe authority, that they will not limit or alter the rights hereby\nvested in the authority to fulfill the terms of any agreements made with\nthe holders thereof, or in any way impair the rights and remedies of\nsuch holders until such bonds, together with the 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\nsuch holders, are fully met and discharged. The authority is authorized\nto include this pledge and agreement of the state in any agreement with\nthe holders of

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§ 2715. Agreement of the state. The participating counties and any\nmunicipalities within their boundaries are authorized to and the state\ndoes hereby pledge to and agree with the owners of any bonds issued by\nthe authority, that they will not limit or alter the rights hereby\nvested in the authority to fulfill the terms of any agreements made with\nthe holders thereof, or in any way impair the rights and remedies of\nsuch holders until such bonds, together with the 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\nsuch holders, are fully met and discharged. The authority is authorized\nto include this pledge and agreement of the state in any agreement with\nthe holders of such bonds.\n