§ 1010. Bonds of the authority. 1. The authority shall have power and\nis hereby authorized from time to time to issue its negotiable bonds in\nconformity with applicable provisions of the uniform commercial code for\nthe purpose of financing any project authorized by this title, including\nthe acquisition of any real or personal property or facilities deemed\nnecessary by the authority.\n 2. In anticipation of the sale of such bonds the authority may issue\nnegotiable bond anticipation notes in conformity with applicable\nprovisions of the uniform commercial code and may renew the same from\ntime to time but the maximum maturity of any such note, including\nrenewals thereof, shall not exceed five years from the date of issue of\nsuch original notes. Such notes shall be paid from any moneys of the\nauthority available therefor and not otherwise pledged, or from the\nproceeds of sale of the bonds of the authority in anticipation of which\nthey were issued. Such notes shall not be issued in an amount in excess\nof the amount of bonds which the authority is authorized to issue, less\nthe amount of any bonds or other notes theretofore issued and\noutstanding. The notes shall be issued in the same manner as the bonds.\nSuch notes and the resolution or resolutions authorizing the same may\ncontain any provisions, conditions or limitations which a bond\nresolution of the authority may contain.\n 3. Except as may be otherwise expressly provided by the authority, the\nbonds and notes of every issue shall be general obligations of the\nauthority payable out of any moneys or revenues of the authority,\nsubject only to any agreements with the holders of particular bonds or\nnotes pledging any particular moneys or revenues.\n 4. The authority shall have power from time to time, whenever it deems\nrefunding expedient, to refund any bonds by the issuance of new bonds,\nwhether the bonds to be refunded have or have not matured, and may issue\nbonds partly to refund bonds then outstanding and partly for any other\npurpose hereinbefore described. Refunding bonds may be exchanged for the\nbonds to be refunded, with such cash adjustments as may be agreed, or\nmay be sold with the proceeds applied to the purchase or payment of the\nbonds to be refunded.\n 5. The bonds may be issued payable in annual installments or may be\nissued as term bonds or the authority, in its discretion, may issue\nbonds of both types. The bonds shall be authorized by resolution of the\ntrustees of the authority and shall bear such date or dates, mature at\nsuch time or times, not exceeding fifty years from their respective\ndates, bear interest at such rate or rates, payable annually or\nsemi-annually, be in such denominations, be in such form, either coupon\nor registered, carry such registration privileges, be executed in such\nmanner, be payable in lawful money of the United States of America at\nsuch place or places, and be subject to such terms of redemption, as\nsuch resolution or resolutions may provide. In the event that term\nbonds are issued, the resolution authorizing the same may make such\nprovisions for the establishment and management of adequate sinking\nfunds for the payment thereof, as the authority may deem necessary. The\nbonds or notes may be sold at public or private sale for such price or\nprices as the authority shall determine. Pending preparation of the\ndefinite bonds, the authority may issue interim receipts which shall be\nexchanged for such bonds.\n 6. Any resolution or resolutions authorizing any bonds or any issue of\nbonds may contain provisions, which shall be a part of the contract with\nthe holders of the bonds to be authorized as to\n (a) pledging all or any part of the revenues of the project or any\nrevenue producing contract or contracts made by the authority with any\nindividual, partnership, corporation or association to secure the\npayment of the bonds or of any particular issue of bonds, subject to\nsuch agreements with
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