Section 2435-E. Special School Deficit Program Agreements

(1) In order to
  fulfill the purposes of this title and to provide a  means  by  which  a
  special  school  deficit program district may receive assistance to meet
  its obligations and, notwithstanding any general or special law  to  the
  contrary,  the  agency  and  the special school deficit program district
  are, subject to the provisions  of  subdivision  (3)  of  this  section,
  hereby  authorized  to  enter  into  one  or more special school deficit
  program agreements, which  special  school  deficit  program  agreements
  shall, consistent with the provisions of this title, contain such terms,
  provisions  and  conditions as, in the judgement of the agency, shall be
  necessary or desirable. Each special school  deficit  program  agreement
  shall  specify  the  amount  to  be made available to the special school
  deficit program district through the proceeds of  an  issue  of  special
  school  deficit  program  bonds  and  shall  require such special school
  deficit program district, subject  to  appropriation  by  the  board  of
  education  of  such  special  school  deficit  program district, to make
  payments to the agency in the amounts and at the times determined by the
  agency to be necessary to provide for payment of such issue  of  special
  school  deficit  program  bonds and such other fees, charges, costs, and
  other amounts as the agency shall  in  its  judgement  determine  to  be
  necessary or desirable.
    (2) Any special school deficit program agreement entered into pursuant
  to  subdivision  one  of this section shall provide that the obligations
  thereunder to fund or pay the amounts therein  provided  for  shall  not
  constitute  a  debt  of the state or such special school deficit program
  district within the meaning of any constitutional or statutory provision
  and shall be deemed executory only to the extent of moneys available and
  that no liability shall be incurred by the state or such special  school
  deficit  program  district  beyond the moneys available for the purpose,
  and that such obligation is subject to annual appropriation by the board
  of education of such special school deficit program district.