* § 1199-ii. Bonds of the authority. 1. The authority shall have the\npower and is hereby authorized from time to time to issue bonds in\nconformance with the applicable provisions of the uniform commercial\ncode in such principal amounts as it may determine to be necessary to\npay the cost of any project or for any other corporate purpose,\nincluding incidental expenses in connection therewith. The authority\nshall have power from time to time to refund any bonds by the issuance\nof new bonds, whether the bonds to be refunded have or have not matured,\nand may issue bonds partly to refund bonds then outstanding and partly\nfor any other corporate purpose. Bonds issued by the authority shall 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 insurer or financial\ninstitution any insurance, guaranty or other credit support device, to\nthe extent now or hereafter available, as to, or for the payment or\nrepayment of interest or principal, or both, or any part thereof, on any\nbonds issued by the authority and to enter into any agreement or\ncontract with respect to any such insurance, guaranty or other credit\nsupport device, except to the extent that the same would in any way\nimpair or interfere with the ability of the authority to perform and\nfulfill the terms of any agreement made with the holders of outstanding\nbonds of the authority.\n 3. Bonds shall be authorized by resolution of the authority, be in\nsuch denominations, bear such date or dates and mature at such time or\ntimes as such resolution may provide, except that bonds and any renewals\nthereof shall mature within forty years of the date of their original\nissuance and notes and any renewal thereof shall mature within five\nyears of the date of their original issuance. Such bonds shall be\nsubject to such terms of redemption, bear interest at such rate or rates\nper annum, which may vary from time to time, as may be necessary to\neffect the sale thereof and shall be payable at such time, be in such\nform, carry such registration privileges, be executed in such manner,\nshall be subject to tender to the authority, with or without extinction\nor cancellation, be payable in such medium of payment at such place or\nplaces, and be subject to such terms and conditions as such resolution\nmay provide. Bonds may be sold at public or private sale for such price\nor prices as the authority shall determine, provided that no issue of\nbonds of the authority, other than obligations designated as notes, may\nbe sold by the authority at private sale unless such sale and the terms\nthereof have been approved in writing by the comptroller, where such\nsale is not to be to such comptroller, or by the state director of the\nbudget, where such sale is to be to the comptroller.\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 part of its revenues, together with any other\nmoneys, securities, contracts or property, to secure the payment of the\nbonds, subject to such agreements with holders of bonds or notes as then\nmay exist;\n (b) the setting aside of reserves and the creation of sinking funds\nand the regulation and disposition thereof;\n (c) limitations on the purpose to which the proceeds from the sale of\nbonds may be applied;\n (d) the rates, fees and other charges to be fixed and collected by the\nauthority and the amount to be raised in each year thereby, and the use\nand disposition of revenues;\n (e) limitations on the right of the authority to restrict and regulate\nthe use of the pro
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