§ 3565 — Agreement with state

§ 3565. Agreement with state. The state does hereby pledge to and\nagree with the holders of any bonds issued by the corporation pursuant\nto this title and with those persons or public corporations who may\nenter into contracts with the corporation pursuant to the provisions of\nthis title that the state will not alter, limit or impair the rights\nhereby vested in the corporation to purchase, construct, own and\noperate, maintain, repair, improve, reconstruct, renovate, rehabilitate,\nenlarge, increase and extend, or dispose of any project, or any part or\nparts thereof for which bonds of the corporation shall have been issued,\nto establish and collect rates, rents, fees and other charges referred\nto in this title, to fulfill the terms of any contracts or agreements\nmade with or for the benefit of the holders of bonds or with any person\nor public corporation with reference to such project or part thereof, or\nin any way to impair the rights and remedies of the holders of bonds,\nuntil the bonds, together with interest thereon, including interest on\nany unpaid installments of interest, and all costs and expenses in\nconnection with any action or proceeding by or on behalf of the holders\nof bonds, are fully met and discharged and such contracts are fully\nperformed on the part of the corporation, provided, however, that the\nstate reserves the right to adjust its medicaid rates in accordance with\napplicable law and implementing regulations, if any. The corporation\nshall include this pledge and agreement of the state in any agreement\nwith the holders of bonds. In no event shall the provisions of this\nsection limit the applicability and enforceability of any and all terms\nand conditions included in any contract or contracts entered into\npursuant to subdivision two of section four hundred three of the public\nhealth law.\n