2015 New York Laws
PBA - Public Authorities
Article 5 - PUBLIC UTILITY AUTHORITIES
Title 6-D - (1147 - 1147-Z) ALFRED, ALMOND, HORNELLSVILLE SEWER AUTHORITY
1147-P - Agreement with the state.

  1147-p.  Agreement  with the state. The state does hereby pledge to
  and agree with the holders of any bonds or notes issued by the authority
  pursuant to this title that the state will not alter or limit the rights
  hereby  vested  in  the  authority  to  purchase,  construct,  maintain,
  operate,   repair,  improve,  increase,  enlarge,  extend,  reconstruct,
  renovate, rehabilitate 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 agreement made with or for the
  benefit  of the holders of bonds or notes or with any public corporation
  or person with reference to such project or part thereof, or in any  way
  to  impair  the  rights  and  remedies of bondholders until the bonds or
  notes, together with the 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 such holders, are fully
  met  and  discharged,  provided, however, that this section shall not be
  construed to limit in any manner, the ability of  the  state  to  alter,
  amend  or  enforce  laws or regulations to protect public health and the
  environment. The authority is authorized  to  include  this  pledge  and
  agreement of the state in any agreement with bondholders.