N.Y. Public Authorities Law Section 1292
Agreement of the state

The state does hereby pledge to and agree with the holders of any notes or bonds issued under this title, that the state will not limit or alter the rights hereby vested in the corporation 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 for which the corporation is liable in connection with any action or proceeding by or on behalf of such holders, are fully met and discharged. The corporation is authorized to include this pledge and agreement of the state in any agreement with the holders of such notes or bonds.

Source: Section 1292 — Agreement of the state, https://www.­nysenate.­gov/legislation/laws/PBA/1292 (updated Sep. 22, 2014; accessed Jan. 18, 2025).

1280
Short title 1281
Definitions 1282
New York state environmental facilities corporation 1283
Purposes of the corporation 1284
General powers of the corporation 1285
Special powers of the corporation 1285‑A
Construction, operation and maintenance of air pollution control facilities, water management facilities and storm water collecting systems 1285‑B
Additional special powers of the corporation with respect to projects and persons 1285‑C
Construction, operation and maintenance of industrial hazardous waste treatment, storage and disposal facilities 1285‑D
Studies regarding design, construction and operation of industrial waste treatment, storage and disposal facilities 1285‑E
Inactive hazardous waste disposal site remedial programs 1285‑F
Program for ultimate disposal of hazardous wastes 1285‑G
Industrial materials recycling program 1285‑H
Inactive hazardous waste disposal site remedial programs 1285‑I
Commercial and industrial waste audits 1285‑J
Water pollution control revolving fund 1285‑K
Financing of the design, acquisition, construction, improvement and installation of Riverbank Park 1285‑L
State park infrastructure projects 1285‑M
Drinking water revolving fund 1285‑N
Issuance and sale of recipient bonds and notes 1285‑O
Pipeline for jobs fund 1285‑P
State environmental infrastructure projects 1285‑Q
Financing of hazardous waste site remediation projects 1285‑R
State beginning farmer program 1285‑S
New York state intermunicipal water infrastructure grants program 1285‑T
Water infrastructure emergency financial assistance 1285‑U
Septic system replacement fund 1286
Acquisition and disposition of real property 1287
Construction contracts 1288
Co-operation and assistance of other agencies 1289
Transfer of officers and employees 1290
Notes and bonds of the corporation 1290‑A
Insurance and guarantees 1291
Reserve funds and appropriations 1292
Agreement of the state 1293
Right of state to require redemption of bonds 1294
Remedies of noteholders and bondholders 1295
Notes and bonds as legal investment 1296
Exemption from taxation 1297
Actions against the corporation 1298
Title not affected if in part unconstitutional or ineffective
Green check means up to date. Up to date

Accessed:
Jan. 18, 2025

Last modified:
Sep. 22, 2014

§ 1292’s source at nysenate​.gov

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