N.Y. Public Authorities Law Section 1271
Agreement of the state

The state does hereby pledge to and agree with the authority and its subsidiaries, New York city transit authority and its subsidiaries, and Triborough bridge and tunnel authority, and the holders of any notes, bonds or other obligations, including lease obligations, issued or incurred under this title, that the state will not limit or alter the denial of authority under subdivision nine of § 1269 (Notes, bonds and other obligations of the authority)section twelve hundred sixty-nine of this title, or the rights and powers vested in the authority and its subsidiaries, New York city transit authority and its subsidiaries, and Triborough bridge and tunnel authority by this title to fulfill the terms of any agreements made by any of them with the holders thereof, or in any way impair the rights and remedies of such holders until such notes, bonds or other obligations, including lease obligations, together with the interest thereon, with interest on any unpaid installments of interest, and all costs and expenses for which the authority or its subsidiaries, New York city transit authority and its subsidiaries, and Triborough bridge and tunnel authority is liable in connection with any action or proceeding by or on behalf of such holders, are fully met and discharged. The authority and its subsidiaries, New York city transit authority and its subsidiaries, and Triborough bridge and tunnel authority are each authorized to include this pledge and agreement of the state in any agreement with the holders of such notes, bonds or other obligations, including lease obligations.

Source: Section 1271 — Agreement of the state, https://www.­nysenate.­gov/legislation/laws/PBA/1271 (updated Sep. 22, 2014; accessed Oct. 26, 2024).

1260
Short title 1261
Definitions 1262
Metropolitan commuter transportation district 1263
Metropolitan transportation authority 1264
Purposes of the authority 1264‑A
State of emergency 1265
General powers of the authority 1265‑A
Contracts 1265‑B
Metropolitan transportation authority small business mentoring program 1266
Special powers of the authority 1266‑A
Medical emergency services 1266‑B
Medical emergency services plan 1266‑C
Transit projects 1266‑D
Long Island rail road commuter’s council 1266‑E
Metro-North rail commuter council 1266‑F
Medical emergency services plan 1266‑G
Excess loss fund 1266‑H
Authority police force 1266‑I
The permanent citizens advisory committee 1266‑J
Metropolitan transportation authority pledge to customers 1266‑K
Expired fare transfer policy 1266‑L
Surveillance cameras 1266‑L*2
Light duty for employees 1266‑M
Information concerning services for human trafficking victims 1267
Acquisition and disposition of real property 1267‑A
Acquisition and disposition of real property by department of transportation 1267‑B
Transit facilities for transit construction fund 1268
Co-operation and assistance of other agencies 1268‑A
Promotion of qualified transportation fringes 1269
Notes, bonds and other obligations of the authority 1269‑A
Metropolitan transportation authority capital program review board 1269‑B
Capital program plans 1269‑C
Metropolitan transportation authority capital program review board 1269‑D
Submission of strategic operation plan 1269‑E
Financial and operational reports 1269‑F
Mission statement and measurement report 1269‑G
Requirements for certain authority contracts and related subcontracts 1270
Reserve funds and appropriations 1270‑A
Metropolitan transportation authority special assistance fund 1270‑B
Metropolitan transportation authority Dutchess, Orange and Rockland fund 1270‑C
Metropolitan transportation authority dedicated tax fund 1270‑D
Consolidated financings 1270‑E
Implementation of the Transportation Infrastructure Bond Act of 2000 1270‑F
Implementation of the rebuild and renew New York transportation bond act of two thousand five 1270‑G
Regulation of certain authority expenditures 1270‑H
Metropolitan transportation authority finance fund 1270‑I
New York city transportation assistance fund 1270‑J
Metropolitan transportation authority commercial gaming revenue fund 1271
Agreement of the state 1272
Right of state to require redemption of bonds 1273
Remedies of noteholders and bondholders 1274
Notes and bonds as legal investment 1275
Exemption from taxation 1276
Actions against the authority 1276‑A
Annual audit of authority 1276‑B
Authority budget and financial plan 1276‑C
Independent audit of authority 1276‑D
Independent audit by the legislature 1276‑E
Reporting 1276‑F
Metropolitan transportation authority transit performance metrics 1277
Station operation and maintenance 1277‑A
Transfer and receipt of surplus funds 1278
Title not affected if in part unconstitutional or ineffective 1279
Metropolitan transportation authority inspector general 1279‑A
Management advisory board 1279‑B
Transition--election to withdraw from the metropolitan commuter transportation district 1279‑C
The office of legislative and community input 1279‑D
Supplemental revenue reporting program 1279‑E
Assignment, transfer, sharing or consolidating powers, functions or activities 1279‑F
Independent forensic audit 1279‑G
Major construction review unit 1279‑H
Debarment 1279‑I
Open data reporting 1279‑L
Right to share employees
Green check means up to date. Up to date

Accessed:
Oct. 26, 2024

Last modified:
Sep. 22, 2014

§ 1271’s source at nysenate​.gov

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