2016 New York Laws
PBA - Public Authorities
Article 5 - PUBLIC UTILITY AUTHORITIES
Title 11 - (1260 - 1279-C) METROPOLITAN COMMUTER TRANSPORTATION AUTHORITY
1271 - Agreement of the state.

  1271.  Agreement  of the state. The state does hereby pledge to and
  agree with the authority and its subsidiaries,  New  York  city  transit
  authority  and  its  subsidiaries,  and  Triborough  bridge  and  tunnel
  authority, and the holders of any notes,  bonds  or  other  obligations,
  including  lease  obligations, issued or incurred under this title, that
  the state will  not  limit  or  alter  the  denial  of  authority  under
  subdivision  nine of section twelve hundred sixty-nine of this title, or
  the rights and powers vested in the authority and its subsidiaries,  New
  York  city transit authority and its subsidiaries, and Triborough bridge
  and tunnel  authority  by  this  title  to  fulfill  the  terms  of  any
  agreements  made  by any of them with the holders thereof, or in any way
  impair the rights and remedies of such holders until such  notes,  bonds
  or  other  obligations,  including  lease obligations, together with the
  interest thereon, with interest on any unpaid installments of  interest,
  and  all costs and expenses for which the authority or its subsidiaries,
  New York city transit authority and  its  subsidiaries,  and  Triborough
  bridge  and  tunnel authority is liable in connection with any action or
  proceeding  by  or  on  behalf  of  such  holders,  are  fully  met  and
  discharged.  The  authority  and its subsidiaries, New York city transit
  authority  and  its  subsidiaries,  and  Triborough  bridge  and  tunnel
  authority  are  each  authorized to include this pledge and agreement of
  the state in any agreement with the holders  of  such  notes,  bonds  or
  other obligations, including lease obligations.