Section 1020-O. Agreement of the state

1. The state of New York does
  hereby pledge to and agree with the holders of  any  obligations  issued
  under  this  title  and  the parties to any contracts with the authority
  hereunder that the state will not  limit  or  alter  the  rights  hereby
  vested  in  the  authority  until  such  obligations  together  with the
  interest thereon are fully met and discharged and/or such contracts  are
  fully  performed  on  the  part  of the authority, provided that nothing
  herein contained shall preclude such limitation  or  alteration  if  and
  when  adequate  provision shall be made by law for the protection of the
  holders of such obligations of the authority,  or  those  entering  into
  such  contracts with the authority. The authority as agent for the state
  is authorized to include this pledge and agreement by the state  in  all
  agreements  with  the  holders  of  such  obligations  and  in  all such
  contracts.
    2. Nothing  in  this  title  shall  be  construed  as  diminishing  or
  enlarging  any valid existing rights under any license heretofore issued
  pursuant to the provisions of the federal power act.
    * NB There are 2 § 1020-o's