§ 2049-h. 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 the power and\nis hereby authorized to enter into such agreements and perform such acts\nas may be required under any applicable federal legislation to secure a\nfederal guarantee of any bonds. The authority shall have the power from\ntime to time to refund any bonds by the issuance of new bonds whether\nthe bonds 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 and subject to any\nagreements with the holders of outstanding bonds pledging any particular\nrevenues or moneys.\n 2. 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 shall provide, provided that bonds and any\nrenewals thereof shall mature within forty years from the date of the\noriginal issuance of any such bonds. Obligations with a maturity of five\nyears or less from the date of their original issuance may be deisgnated\nas notes. Bonds shall be subject to such terms of redemption, bear\ninterest at such specified rate or rates, or, with respect to\nobligations designated as notes, at such rate or rates not in excess of\nsuch specified rate or rates, be payable at such times, be in such form,\neither coupon or registered, carry such registration privileges, be\nexecuted in such manner, be payable in such medium or payment at such\nplace or places, and be subject to such terms and conditions as such\nresolution may provide. Bonds may be sold at public or private sale for\nsuch price or prices as the authority shall determine, provided that no\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 state comptroller where\nsuch sale is not to be to such comptroller, or by the state director of\nthe budget where such sale is to be to said 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 3. 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 moneys or revenues, other moneys\nor property of the authority to secure the payment of the bonds or of\nany issuance thereof, including but not limited to any contracts,\nearnings or proceeds of any grant to the authority received from any\nprivate or public source subject to such agreements with bondholders as\nmay then 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, rents, fees and other charges to be fixed and collected\nby the authority and the amount to be raised in each year thereby and\nthe use and disposition of revenues;\n (e) limitations on the right of the authority to restrict and regulate\nthe use of the project or part thereof in connection with which bonds\nare issued;\n (f) limitations on the issuance of additional bonds, the terms upon\nwhich additi
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