§ 12. Issuance of bonds and notes by the corporation. 1. Subject to\nthe provisions of section thirteen, the corporation shall have the power\nand is hereby authorized, from time to time, to issue negotiable bonds\nand notes in such aggregate principal amounts as shall, in the opinion\nof the corporation, be necessary together with such other moneys or\nfunds as may be available to the corporation, to provide funds\nsufficient to enable the corporation to carry out its corporate\npurposes, including site acquisition, construction, maintenance and\nrepair of health facilities, the payment of interest on and amortization\nof, or payment of such bonds and notes, the establishment of reserves or\nsinking funds to secure such bonds and notes, and all other expenditures\nof the corporation incident to and necessary or desirable for the\ncarrying out of its corporate purposes and the exercise of its powers.\nExcept as may otherwise be expressly provided by the corporation, every\nissue of its bonds and notes shall be general obligations of the\ncorporation payable out of any revenues or moneys of the corporation,\nsubject only to any agreements with the holders of particular bonds or\nnotes pledging any particular revenues or moneys. Whether or not the\nbonds or notes are of such form and character as to be negotiable\ninstruments under the provisions of article eight of the uniform\ncommercial code, the bonds and notes shall be and are hereby made\nnegotiable instruments within the meaning of and for all the purposes of\narticle eight of the uniform commercial code, subject only to the\nprovisions of the bonds or notes for registration.\n 2. The corporation shall have the power and is hereby authorized, from\ntime to time, to issue renewal notes, and to refund any bonds by the\nissuance of new bonds, whether the bonds to be refunded have or have not\nmatured, and to issue bonds to pay notes or partly to refund bonds then\noutstanding and partly for any of its corporate purposes.\n 3. The said bonds and notes shall be authorized by resolution or\nresolutions of the board, and shall be dated and shall mature as such\nresolution or resolutions may provide, except that no note or any\nrenewal thereof shall mature more than five years after the date of\nissue of the original note and no bond shall mature more than forty\nyears from the date of its issue. Bonds and notes shall bear interest at\nsuch rate or rates, be in such denominations, be in such form, either\ncoupon or registered, carry such registration privileges, be executed in\nsuch manner, be payable in such medium of payment, at such place or\nplaces, and be subject to such terms of redemption as such resolution or\nresolutions may provide. Bonds and notes may be sold by the corporation\nat public or private sale at such price or prices as the corporation\nshall determine; provided, however, that no such bonds or notes may be\nsold at a private sale unless the sale and the terms thereof have been\napproved by the comptroller in writing.\n 4. Any resolution or resolutions authorizing any bonds or notes may\ncontain provisions, which shall be a part of the contract or contracts\nwith the holders thereof, as to\n (a) pledging all or any part of the moneys or revenues or other assets\nof the corporation to secure the payment of such bonds or notes,\nincluding, but not limited to, fees, rentals and charges for the use of\na health facility and the proceeds of any grant in aid of the\ncorporation received from any public or private source and contracts\nauthorized by section seven of this act;\n (b) the setting aside of reserves or sinking funds and the regulation\nor disposition thereof;\n (c) limitations on the purposes to which the proceeds of the sale of\nany issue of bonds or notes then or thereafter to be issued may be\napplied and pledging such proceeds to secure the payment of the bonds or\nnotes or any issue thereof;\n (d) limitations on the issuance of additional bon
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