N.Y. Public Authorities Law Section 830
Agreement of the state

The state of New York does pledge and agree with the holders of any bonds that are issued under this title that the state will not authorize the construction of any market facilities which will be competitive with any market facilities owned or operated by the authority or within a reasonable sphere of operation and extension of market facilities by the authority, nor will it limit or alter the rights hereby vested in the authority to establish and collect such rentals and license fees as may be necessary or convenient to produce sufficient revenues to meet the expense of maintenance and operation of the market facilities and to fulfill the terms of any agreements made with the holders of the bonds, or in any way impair the rights and remedies of bond holders, until the bonds, together with interest thereon, with interest on any unpaid instalments of interest, and all costs and expenses in connection with any actions or proceedings by or on behalf of the bond holders, are fully met and discharged.

Source: Section 830 — Agreement of the state, https://www.­nysenate.­gov/legislation/laws/PBA/830 (updated Sep. 22, 2014; accessed Apr. 27, 2024).

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Accessed:
Apr. 27, 2024

Last modified:
Sep. 22, 2014

§ 830’s source at nysenate​.gov

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