Section 539. Powers of the comptroller

Whenever the state and the funds of
  which the comptroller is custodian or trustee, or any of them, shall  be
  the  owner  of  any  bonds  or notes of the authority the comptroller is
  hereby authorized as to any of such bonds or  notes:  (a)  by  agreement
  with  the  authority  to  modify the terms of such bonds or notes or the
  terms of any  contract  affecting  or  securing  such  bonds  or  notes,
  provided  that  no  such  agreement shall reduce the principal amount of
  such bonds or notes or in the opinion of the comptroller jeopardize  the
  payment  of  the  principal  thereof or the interest thereon at the rate
  thereafter payable thereon and provided that any agreement  relating  to
  toll rates shall be approved by the commissioner; (b) to sell such bonds
  or  notes to the authority at a price not less than the principal amount
  thereof and accrued interest; (c) to surrender such bonds  or  notes  to
  the authority in exchange for other bonds or notes of the authority in a
  principal  amount  not  less  than  the principal amount of the bonds or
  notes surrendered, with such cash adjustments  as  the  comptroller  may
  deem  proper; (d) to make such agreements and to do such acts and things
  as the comptroller shall deem necessary or convenient  to  exercise  the
  powers  hereby conferred; provided, however, that nothing done under the
  provisions of this section shall in any  manner  affect  the  rights  of
  other bondholders or noteholders.