* § 1129. Bonds of the authority. 1. The authority shall have the\npower and is hereby authorized from time to time to issue bonds in such\nprincipal amounts as it may determine to be necessary to pay the cost of\nany project or for any other corporate purpose, including incidental\nexpenses in connection therewith. The authority shall have power and is\nhereby authorized to enter into such agreements and perform such acts as\nmay be required under any applicable federal legislation to secure a\nfederal guarantee of any bonds. The authority shall have power from time\nto time to refund any bonds by the issuance of new bonds, whether the\nbonds to be refunded have or have not matured, and may issue bonds\npartly to refund bonds then outstanding and partly for any other\ncorporate purpose. Bonds issued by the authority may be general\nobligations secured by the faith and credit of the authority or may be\nspecial obligations payable solely out of particular revenues or other\nmoneys as may be designated in the proceedings of the authority under\nwhich the bonds shall be authorized to be issued, subject only to any\nagreements with the holders of outstanding bonds pledging any particular\nrevenues, earnings, or moneys.\n 2. The authority is authorized to obtain from any department or agency\nof the United States of America or the state or any nongovernmental\ninsurer or financial institution any insurance, guarantee or other\ncredit support device, to the extent now or hereafter available, as to,\nor for the payment or repayment of interest or principal or premium, or\nany of the foregoing, or any part thereof, on any bonds issued by the\nauthority and to enter into any agreement or contract with respect to\nany such insurance or guarantee, except to the extent that the same\nwould in any way impair or interfere with the ability of the authority\nto perform and fulfill the terms of any agreement made with the holders\nof outstanding bonds of the authority.\n 3. Bonds shall be authorized by resolution of the authority, and may\nbe in such denominations and bear such date or dates and mature at such\ntime or times as such resolution may provide, except that bonds and any\nrenewals thereof shall mature within forty years from the date of\noriginal issuance of any such bonds. Obligations with a maturity of five\nyears or less from the date of their original issuance may be designated\nas notes. Bonds shall be subject to such terms of redemption, bear\ninterest at such rate or rates per annum payable at such times, be in\nsuch form, carry such registration privileges, be executed in such\nmanner, be payable in such medium of payment at such place or places,\nand be subject to such terms and conditions as such resolution may\nprovide. Bonds may be sold at public or private sale for such price or\nprices as the authority shall determine, provided that no bonds of the\nauthority, other than obligations designated as notes, may be sold by\nthe authority at private sale unless such sale and the terms thereof\nhave been approved in writing by the comptroller, where such sale is not\nto be to such comptroller, or by the state director of the division of\nthe budget, where such sale is to be to the comptroller. The authority\nmay pay all expenses, premiums and commissions which it may deem\nnecessary or advantageous in connection with the issuance and sale of\nbonds.\n 4. Any resolution or resolutions authorizing bonds or any issue of\nbonds may contain provisions which may be a part of the contract with\nthe holders of the bonds thereby authorized as to:\n (a) pledging all or any part of the authority, together with any other\nmoneys or property of the authority to secure the payment of the bonds,\nincluding, but not limited to, any contracts, earnings or proceeds of\nany grant to the authority received from any private or public source;\n (b) the setting aside of reserves and the creation of sinking funds\nand the regulation and dispos
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