Section 21.15. Application of law

Any other provision of any other law to
  the contrary notwithstanding:
    1. All of the applicable provisions of the general municipal law or of
  any other law shall apply to the trust  herein  continued  in  the  same
  manner as if the language of such law had been incorporated in full into
  this article, except to the extent that such provisions are inconsistent
  with the provisions of this article.
    2.  The repeal of article thirteen-F of the general municipal law, and
  the enactment of this article  with  modifications  as  to  the  general
  reference  of  sections  within  this article, shall not be construed to
  take away, impair,  or  affect  any  right,  remedy,  responsibility  or
  authority acquired or given by the provisions so repealed, including any
  covenants with bondholders or any legal contracts or agreements with any
  person or political subdivision of this state; and all existing suits or
  proceedings  may  be continued and completed; and all offenses committed
  or penalties or forfeitures incurred shall continue and remain in  force
  with the same effect as if this article had not become law.