Section 883. Agreement of the state  


Latest version.
  • The state of New York does hereby
      pledge to and agree with the holders of the bonds that  the  state  will
      not  authorize  the  construction  or operation of any market facilities
      within the district by any public agency or public corporation, nor will
      it limit or alter the rights hereby vested in the authority to  acquire,
      construct,  reconstruct,  improve,  equip,  operate  and maintain market
      facilities, to establish and collect rentals, fees and other charges and
      to fulfill the terms of any agreements made  with  the  holders  of  the
      bonds,  or in any way impair the rights and remedies of the bondholders,
      until the bonds together with accrued 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 the
      bondholders, are fully met and discharged.