N.Y. Private Housing Finance Law § 657

§ 657. Agreement with the state. The state does hereby pledge to and\nagree with the holders of any notes or bonds issued under this article\nthat the state will not limit or alter the rights hereby vested in the\ncorporation to fulfill the terms of any agreements made with the said\nholders thereof, or in any way impair the rights and remedies of such\nholders until such notes and bonds, together with the interest thereon,\nwith interest on any unpaid installments of interest, and all costs and\nexpenses in connection with any action or proceeding by or on behalf of\nsuch holders, are fully met and discharged. The corporation is\nauthorized to include this pledge and agreement of the state in any\nagreement with the holders of such notes or bonds.\n