Public Authorities Law § 1196-k · Title 8-A. New York State Local Water and Sewer Authority Act
Agreement with the state
Text — Law content up to date as of October 2, 2026, as published by the New York State Senate (Open Legislation)
§ 1196-k. Agreement with the state. The state does hereby pledge to and agree with the holders of any bonds issued by an authority pursuant to this title that the state will not alter or limit the rights hereby vested in the authority to fulfill the terms of any agreement made with or for the benefit of the holders of bonds, or in any way impair the rights and remedies of bondholders, until the bonds, together with the interest thereon, with 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. An authority is authorized to include this pledge and agreement of the state in any agreement with bondholders.
Source of truth
- Edition
- Law content up to date as of October 2, 2026, as published by the New York State Senate (Open Legislation)
- Official file
- https://legislation.nysenate.gov/pdf/laws/PBA1196-K
- Text hash
- sha256 0b4676fb64203bb60bcec62625f5bc97ce249500451c4b1185d731460f1d3fb2
- Composed by
- gen_ny_statutes.py 2026-11-10: the Senate's Open Legislation law tree (GET /api/3/laws/<ID>?full=true) read in document order; the Senate's PDF of the whole law (GET /pdf/laws/<ID>?full=true), read with PDFium, prints the same words in the same order
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.