N.Y. Public Authorities Law Section 2320
Agreements of the city and state

The city is authorized to, and the state does hereby, pledge to and agree with the holders of the bonds that neither the city nor the state, respectively, will limit or alter the rights, hereby vested in the authority to acquire, construct, reconstruct, improve, maintain, equip and finish the project or projects, to establish and collect rentals, fees and other charges and to fulfill the terms of any agreements made with the holders of the bonds, nor in any way impair the rights and remedies of the bondholders, until the bonds, together with 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 the bondholders, are fully met and discharged.

Source: Section 2320 — Agreements of the city and state, https://www.­nysenate.­gov/legislation/laws/PBA/2320 (updated Sep. 22, 2014; accessed Jun. 21, 2025).

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Verified:
Jun. 21, 2025

Last modified:
Sep. 22, 2014

§ 2320. Agreements of the city & state's source at nysenate​.gov

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