New York Public Authorities Law Section 1197-L - Agreement with the state.

  1197-l.  Agreement  with the state. The state does hereby pledge to
  and agree with the holders of any bonds issued by the authority pursuant
  to this title that the state will not alter or limit the  rights  hereby
  vested  in the authority to fulfill the terms of any agreement made with
  or for the benefit of the holders of bonds or  in  any  way  impair  the
  rights  and  remedies  of  bondholders until the bonds together with the
  interest thereon, with interest on any unpaid installments of  interest,
  and  all  costs and expenses in connection with any action or proceeding
  by or on behalf of such holders,  are  fully  met  and  discharged.  The
  authority  is  authorized  to  include  this pledge and agreement of the
  state in any agreement with bondholders.

Last modified: February 3, 2019