Section 1599-K. Agreements of the state

1. The state of New York does
  pledge to and agree with the holders of the bonds that  the  state  will
  not limit or alter the rights hereby vested in the authority to acquire,
  construct, maintain, reconstruct and operate the project or projects, 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 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.
    2.  The  authority is hereby authorized, in its discretion, for and on
  behalf of itself and the city of Cohoes to covenant and agree  with  the
  holders  of  the  bonds,  with such exceptions and limitations as it may
  deem in the public interest, that no public parking areas  except  those
  acquired  and  operated by the authority will be constructed or operated
  in the city by the city, or by any public benefit or  other  corporation
  the  members  or  some  of  which  are  elected or are appointed by city
  officials, until either (a) the bonds, together with  interest  thereon,
  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  or  (b) principal or
  interest of any of the bonds shall be overdue and unpaid for a period of
  three years or more, provided that nothing  herein  contained  shall  be
  deemed  to  impair  the right of the city to install and operate parking
  meters on the public streets of the city.
    * NB Authority terminated 07/01/1974
    * NB There are 4 § 1599-k's