N.Y. Education Law Section 463
Agreement with the state

The state does hereby pledge to and agree with the holders of any notes or bonds issued under this article, that the state will not limit or alter the rights hereby vested in the fund to fulfill the terms of any agreements made with the holders thereof, or in any way impair the rights and remedies of such holders until such notes or bonds, together with the interest thereon, with interest on any unpaid installments of interest, and all costs and expenses in connection with any action or proceeding by or on behalf of such holders, are fully met and discharged. The fund is authorized to include this pledge and agreement of the state in any agreement with the holders of such notes or bonds.

Source: Section 463 — Agreement with the state, https://www.­nysenate.­gov/legislation/laws/EDN/463 (updated Sep. 22, 2014; accessed May 10, 2025).

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Accessed:
May 10, 2025

Last modified:
Sep. 22, 2014

§ 463’s source at nysenate​.gov

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