N.Y. Pub. Auth. Law § 1290-a

§ 1290-a. Insurance and guarantees. The corporation may obtain from\nany department or agency of the United States of America any available\ninsurance or guaranty for the payment or repayment of interest or\nprincipal, or both, or any part thereof, on any bonds or notes issued by\nthe corporation, but notwithstanding any other provisions of this title\nmay not enter into any agreement or contract with respect to any such\ninsurance or guaranty to the extent that it would in any way impair or\ninterfere with the ability of the corporation to perform and fulfill the\nterms of any agreement made with the holders of the bonds or notes of\nthe corporation.\n