§ 1805. Issuance of bonds and notes by the authority. 1. Subject to\nthe limitations of other provisions of this title, the authority shall\nhave the power and is hereby authorized to borrow money and to issue its\nnegotiable bonds and notes in conformity with applicable provisions of\nthe uniform commercial code in such principal amounts as, in the opinion\nof the authority, shall be necessary to provide sufficient funds for\nachieving its corporate purposes, including the making of loans, the\nissuing of loan guarantees, the payment of interest on bonds and notes\nof the authority, the establishment of reserves to secure such bonds and\nnotes, and all other expenditures of the authority incident to and\nnecessary or convenient to carry out its corporate purposes and powers.\n 2. Bonds and notes shall be authorized by resolution of the authority,\nand shall be dated and shall mature as such resolution or resolutions\nmay provide, except that no note or any renewal thereof shall mature\nmore than seven years after the date of issue of the original note and\nno bond shall mature more than thirty years from the date of its issue.\nBonds and notes shall bear interest at such rate or rates, be in such\ndenominations, be in such form, either coupon or registered, carry such\nregistration privileges, be executed in such manner, be payable in such\nmedium of payment, at such place or places, and be subject to such terms\nof redemption as such resolution or resolutions may provide.\n 3. Special purpose bonds and notes may be sold by the authority at\npublic or private sale in such manner and on such terms and at such\nprice or prices as the authority, with the approval of the comptroller,\nshall determine. If special purpose bonds are sold by the authority at\npublic sale, such sale shall take place not less than six nor more than\nforty days after a notice of such sale has been published at least once\nin a newspaper published in Albany and in a financial newspaper\npublished and circulating in New York city, which shall state the terms\nof sale as determined by the authority. Pollution control bonds and\nnotes of the authority may be sold by the authority, at public or\nprivate sale, in such manner and on such terms and at such price or\nprices as the authority shall determine but shall not be sold by the\nauthority at private sale unless such sale and the terms thereof have\nbeen approved in writing by the comptroller where such sale is not to\nthe comptroller, or by the director of the budget where such sale is to\nthe comptroller.\n 4. In the discretion of the authority any bonds or issue of bonds or\nnotes or issue of notes may be secured under resolutions of the\nauthority or by a trust indenture by and between the authority and a\ncorporate trustee which may be any trust company or bank having the\npowers of a trust company in the state or by a secured loan agreement or\nother instrument. The authority, in connection with any bonds or issue\nof bonds or notes or issue of notes and for the security or protection\nthereof and as a part of the contract with the holders thereof, by means\nof any such resolution, trust indenture, loan agreement or other\ninstrument may (a) make and enter into any and all such covenants and\nagreements with the holders of such bonds or notes as the authority may\ndetermine to be necessary or desirable, including without limitation of\nthe foregoing, covenants, provisions, limitations and agreements as to\nthe application, use and disposition of the proceeds of any bonds or\nnotes or of sale or other disposition of any mortgage or other property\nor of any other receipts, moneys or assets of the authority, or in which\nit has an interest, the exercise by the authority of its powers under\nthis title with respect to loans and the revenues and receipts to be\nderived by the authority from such loans, the assignment of any right,\ntitle and interest in any mortgage in which the authority has an\ninte
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