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N.Y. PBA Law § 1020-O

This is the official text of N.Y. PBA Law § 1020-O, part of New York’s PBA Law — part of the compiled statutory law of New York, published by the state as "PBA Law." Browse the sections below, each linked to its official government source.

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Agreement of the state

Official statutory text

* § 1020-o. Agreement of the state. 1. The state of New York does\nhereby pledge to and agree with the holders of any obligations issued\nunder this title and the parties to any contracts with the authority\nhereunder that the state will not limit or alter the rights hereby\nvested in the authority until such obligations together with the\ninterest thereon are fully met and discharged and/or such contracts are\nfully performed on the part of the authority, provided that nothing\nherein contained shall preclude such limitation or alteration if and\nwhen adequate provision shall be made by law for the protection of the\nholders of such obligations of the authority, or those entering into\nsuch contracts with the authority. The authority as agent for the state\nis authorized to include this pledge and agreement by the state in all\nagreements with the holders of such obligations and in all such\ncontracts.\n 2. Nothing in this title shall be construed as diminishing or\nenlarging any valid existing rights under any license heretofore issued\npursuant to the provisions of the federal power act.\n * NB There are 2 § 1020-o's\n

Status: in_force · Read it on the official government site

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About this page: Statute text is reproduced from official government publishers via the Open US Law dataset (Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine (Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.