N.Y. PBA Law § 2047-M

§ 2047-m. Agreement with the state. The state does hereby pledge to\nand agree with the holders of any bonds issued by the agency pursuant to\nthis title that the state will not alter or limit the rights hereby\nvested in the agency to purchase, construct, maintain, operate, repair,\nimprove, increase, enlarge, extend, reconstruct, renovate, rehabilitate\nor dispose of any project, or any part or parts thereof, for which bonds\nof the agency shall have been issued, to establish and collect rates,\nrents, fees and other charges referred to in this title, to fulfill the\nterms of any agreement made with or for the benefit of the holders of\nbonds or with any public corporation or person with reference to such\nproject or part thereof, or in any way impair the rights and remedies of\nbondholders, until the bonds, together with the interest thereon, with\ninterest on any unpaid installments of interest, and all costs and\nexpenses in connection with any action or proceeding by or on behalf of\nsuch holders, are fully met and discharged. The agency is authorized to\ninclude this pledge and agreement of the state in any agreement with\nbondholders.\n