N.Y. Public Authorities Law Section 3614
Agreement with towns

The towns are authorized to pledge to and agree with the holders of any bonds issued by the corporation pursuant to this title and with those persons or public corporations who may enter into contracts with the corporation pursuant to the provisions of this title that the towns will not alter, limit or impair the rights hereby vested in the corporation to purchase, construct, own and operate, maintain, repair, improve, reconstruct, renovate, rehabilitate, enlarge, increase and extend, or dispose of any project, or any part or parts thereof, for which bonds of the corporation shall have been issued, to establish, collect and adjust rates, rents, fees and other charges referred to in this title, to fulfill the terms of any agreements made with the holders of the bonds or with any public corporation or person with reference to such project or part thereof, or in any way impair the rights and remedies of the holders of bonds, until the bonds, together with interest thereon, including 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 holders of bonds, are fully met and discharged and such contracts are fully performed on the part of the corporation.

Source: Section 3614 — Agreement with towns, https://www.­nysenate.­gov/legislation/laws/PBA/3614 (updated Sep. 22, 2014; accessed Jan. 18, 2025).

Green check means up to date. Up to date

Accessed:
Jan. 18, 2025

Last modified:
Sep. 22, 2014

§ 3614’s source at nysenate​.gov

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