New York § 3015 Agreement with the state

New York Statutes

§ 3015 — Agreement with the state

New York § 3015

Law PBAPublic Authorities

Title 2General Provisions Relating to Municipal Assistance Corporations

Art. 10New York State Municipal Assistance Corporation Act

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Bluebook

N.Y. Public Authorities § 3015 (2026).

Text

  § 3015. Agreement with the state. The state does hereby pledge to and\nagree with the holders of any notes or bonds issued by a corporation\nunder this act that the state will not limit or alter the rights hereby\nvested in such corporation to fulfill the terms of any agreements made\nwith the said holders thereof, or in any way impair the rights and\nremedies of such holders until such notes and bonds together with the\ninterest thereon, with interest on any unpaid installments of interest,\nand all costs and expenses in connection with any action or proceeding\nby or on behalf of such holders, are fully paid and discharged. A\ncorporation is authorized to include this pledge and agreement of the\nstate in any agreement with the holders of such notes or bonds.\n

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§ 3015. Agreement with the state. The state does hereby pledge to and\nagree with the holders of any notes or bonds issued by a corporation\nunder this act that the state will not limit or alter the rights hereby\nvested in such corporation to fulfill the terms of any agreements made\nwith the said holders thereof, or in any way impair the rights and\nremedies of such holders until such notes and bonds together with the\ninterest thereon, with interest on any unpaid installments of interest,\nand all costs and expenses in connection with any action or proceeding\nby or on behalf of such holders, are fully paid and discharged. A\ncorporation is authorized to include this pledge and agreement of the\nstate in any agreement with the holders of such notes or bonds.\n