<For dissolution of Authority, see L.1981, c. 932, § 3, set out as a note under Public
Authorities Law § 2015.>
The state of New York does pledge to and agree with the holders of the bonds or notes
that the state will not limit or alter the rights hereby vested in the authority to
acquire, construct, maintain, operate, reconstruct and improve the properties, to
establish and collect the revenues, rates, rentals, fees and other charges referred
to in this title and to fulfill the terms of any agreements made with the holders
of the bonds or notes, or in any way impair the rights and remedies of such bondholders
or noteholders, until the bonds or notes together with interest thereon, interest
on any unpaid installments of interest, and all costs and expenses in connection with
any action or proceedings by or on behalf of the bondholders or noteholders are fully
met and discharged.
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