N.Y. Public Authorities Law Section 2477
Agreement of the state

The state of New York does hereby pledge to and agree with the holders of any bonds or notes issued under this title that the state will not limit or alter the rights hereby vested in the authority 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 bonds or notes together with the interest thereon, with interest on any unpaid installments of interest, and all costs and expenses in connection with any action or proceedings by or on behalf of such holders, are fully met and discharged. The authority is authorized to include this pledge and agreement of the state in any agreement with the holders of such bonds or notes. * NB (Disbanded March, 1980)

Source: Section 2477 — Agreement of the state, https://www.­nysenate.­gov/legislation/laws/PBA/2477 (updated Sep. 22, 2014; accessed Dec. 21, 2024).

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Accessed:
Dec. 21, 2024

Last modified:
Sep. 22, 2014

§ 2477’s source at nysenate​.gov

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