N.Y. Gen. Mun. Law § 868

§ 868. Agreements of the municipality and state. The municipality is\nauthorized to, and the state does hereby, pledge to and agree with the\nholders of the bonds or notes that neither the municipality nor the\nstate, respectively, will limit or alter the rights, hereby vested in\nthe agency to acquire, construct, reconstruct, improve, maintain, equip\nand furnish the project or projects, to establish and collect rentals,\nfees and other charges and to fulfill the terms of any agreements made\nwith the holders of the bonds or notes nor in any way impair the rights\nand remedies of the bondholders or noteholders until the bonds or notes,\ntogether with interest thereon, with interest on any unpaid installments\nof interest and all costs and expenses in connection with any action or\nproceeding by or on behalf of the bondholders or noteholders are fully\nmet and discharged.\n