N.Y. PBA Law § 3659

§ 3659. Agreement with the county. The county is authorized to pledge\nto and agree with the holders of any issue of bonds issued by the\nauthority pursuant to this title and secured by such a pledge that the\ncounty will not limit, alter or impair the rights hereby vested in the\nauthority to fulfill the terms of any agreements made with such holders\npursuant to this title, or in any way impair the rights and remedies of\nsuch holders or the security for such bonds until such bonds, together\nwith the interest thereon and all costs and expenses in connection with\nany action or proceeding by or on behalf of such holders, are fully paid\nand discharged. Nothing contained in this title shall be deemed to\nrestrict any right of the county to amend, modify or otherwise alter\nlocal laws, ordinances or resolutions imposing or relating to the taxes\nimposed pursuant to the authority of article twenty-nine of the tax law\nor other taxes or fees or appropriations related to any such taxes or\nfees, so long as, after giving effect to such amendment, modification or\nother alteration, the amount of tax revenues projected by the authority\nto be available during each of its fiscal years following the effective\ndate of such amendment, modification or other alteration shall be not\nless than two hundred percent of maximum annual debt service on\nauthority bonds then outstanding. Subject to the foregoing sentence, the\nauthority shall not include in any resolution, contract or agreement\nwith the holders of its bonds any provision which provides that a\ndefault occurs as a result of the county exercising its right to amend,\nmodify, or otherwise alter such taxes imposed pursuant to the authority\nof article twenty-nine of the tax law or other taxes or fees. Nothing in\nthis title shall be deemed to obligate the county to make additional\npayments or impose taxes other than those imposed pursuant to the\nauthority of paragraph one of subdivision (a) of section twelve hundred\nten of the tax law to satisfy the debt service obligations of the\nauthority.\n