§ 6228. Transitory provisions. 1. Whenever the term "board of higher education of the city of New York" or "board of higher education of a city having a population of one million or more" is referred to or designated in any law, general, special or local, contract, lease, judgment, decision or document pertaining to the functions, powers and duties hereby continued in, transferred and assigned to, or devolved upon, the corporate body of the city university of New York continued by this article, such reference or designation shall be deemed to refer to and include the corporate body of the city university of New York continued by this article, so far as such law, contract, lease, judgment, decision or document pertains to matters which are within its jurisdiction by reason of the redesignation, continuation, transfer, assignment and devolution of functions, powers and duties made by this article.

2. All contracts, leases and other agreements entered into by the board of higher education of the city of New York on behalf of the city university of New York before the effective date of this article shall be conducted and completed by the body corporate of the city university of New York continued by this article in the same manner and under the same terms and conditions and with the same effect as if the same had been conducted and completed by the board of higher education of the city of New York. In addition, any contracts, leases and other agreements entered into by the city university of New York prior to the effective date of this article shall remain in full force and effect and shall be conducted and completed by the body corporate of the city university of New York continued by this article.

3. All rights, title and interest in personal property used for educational or administrative purposes of the senior colleges of the city university of New York vested in the city of New York on the effective date of this article are hereby transferred, assigned and devolved upon the city university of New York.

4. No existing right or remedy of any character shall be lost, impaired or affected, nor shall any new right or remedy of any character accrue to or for the benefit of any person by reason of the continuation of the corporate body of the city university of New York pursuant to the provisions of this article.

5. Any lease entered into by the city of New York for the purposes of the senior colleges of the city university of New York before the effective date of this article is hereby transferred, assigned and devolved upon the city university of New York, notwithstanding any provision that may be contained therein providing for the nonassignability of such lease and any such provision shall be deemed to be void as against the public policy of the state and of no force and effect; provided however, that the city of New York shall guarantee the performance by the city university of the obligation of the lessee under such lease.