2015 New York Laws
PBA - Public Authorities
Article 5 - PUBLIC UTILITY AUTHORITIES
Title 10 - (1226-A - 1226-Z) UPPER MOHAWK VALLEY REGIONAL WATER FINANCE AUTHORITY
1226-Q - Agreement with the state.

  1226-q.  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 and with those persons  or  public  corporations  who  may
  enter  into  contracts  with the authority pursuant to the provisions of
  this title that the state will not alter, limit  or  impair  the  rights
  hereby  vested in the authority to purchase, construct, own and operate,
  maintain, repair, improve, reconstruct, renovate, rehabilitate, enlarge,
  increase and extend, or dispose of any project, or  any  part  or  parts
  thereof  for  which  bonds  of  the authority shall have been issued, to
  establish and collect rates, rents, fees and other charges  referred  to
  in  this title, to fulfill the terms of any contracts or agreements made
  with or for the benefit of the holders of bonds or with  any  person  or
  public corporation with reference to such project or part thereof, or in
  any way to impair the rights and remedies of the holders of bonds, until
  the  bonds,  together  with  interest thereon, including interest on any
  unpaid  installments  of  interest,  and  all  costs  and  expenses   in
  connection  with any action or proceeding by or on behalf of the holders
  of bonds, are fully met and discharged  and  such  contracts  are  fully
  performed  on  the part of the authority. The authority is authorized to
  include this pledge and agreement of the state in any agreement with the
  holders of bonds.