§ 3638 — Agreement with state

New York § 3638

• Jurisdiction: New York
• Law PBA: Public Authorities
• Title 6: Erie County Medical Center Corporation
• Art. 10-C: New York Health Care Corporations

Text

§ 3638. 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\nissued, to establish and collect rates, rents, fees, and other charges\nreferred to in this title, to fulfill the terms of any contracts or\nagreements made with or for the benefit of the holders of bonds or with\nany person or public corporation with reference to such project or part\nthereof, or in any way impair the rights and remedies of the holders of\nbonds, until the bonds, together with interest thereon, including\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 holders of bonds, are fully met and discharged and such contracts\nare fully performed on the part of the corporation. The corporation is\nauthorized to include this pledge and agreement of the state in any\nagreement with the holders of bonds.\n