§ 2050-h. Bonds of the agency. 1. The agency shall have the power and\nis hereby authorized from time to time to issue bonds, in conformity\nwith applicable provisions of the uniform commercial code, 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 agency 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 agency may be general obligations\nsecured by the faith and credit of the agency or may be special\nobligations payable solely out of particular revenues or other moneys as\nmay be designated in the proceedings of the agency under which the bonds\nshall be authorized to be issued and subject to any agreements with the\nholders of outstanding bonds pledging any particular revenues or moneys.\nThe agency may also enter into bank loan agreements, lines of credit and\nother security agreements and obtain for or on its behalf letters of\ncredit in each case for securing its bonds or to provide direct payment\nof any costs which the agency is authorized to pay.\n 2. Bonds shall be authorized by resolution of the agency, be in such\ndenominations and bear such date or dates and mature at such time or\ntimes, as such resolution may provide, except that notes and any\nrenewals thereof shall mature within five years from the date of the\noriginal issuance and bonds shall mature within thirty years from the\ndate of original issuance of any such bond or note. The bonds and notes\nshall be subject to such terms of redemption, bear interest at such rate\nor rates payable at such times, be in such form, carry such registration\nprivileges, be executed in such manner, be payable in such medium of\npayment at such place or places, and be subject to such terms and\nconditions as such resolution may provide. Bonds may be sold at public\nor private sale for such price or prices as the agency shall determine.\nBonds of the agency shall not be sold by the agency at private sale\nunless such sale and the terms thereof have been approved in writing by\nthe state comptroller, which such sale is not to the comptroller, or by\nthe state director of the budget, where such sale is to the comptroller.\nThe agency may pay all expenses, premiums and commissions which it may\ndeem necessary or advantageous in connection with the issuance and sale\nof bonds.\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 revenues, other moneys or\nproperty, of the agency to secure the payment of the bonds, including\nbut not limited to any contracts, earnings or proceeds of any grant to\nthe agency received from any private or public source;\n (b) The setting aside of reserves and the creation of sinking funds\nand the regulations and disposition thereof;\n (c) Limitations on the purpose to which the proceeds from the sale of\nthe bonds may be applied;\n (d) The rates, rents, fees and other charges to be fixed and collected\nby the agency and the amount to be raised in each year thereby and the\nuse and disposition of revenues;\n (e) Limitations on the right of the agency 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 additional bonds may be issued and secured and the refunding of\noutstanding or other bonds;\n (g) The procedure, if any, by which the terms of any contract with\nbondholders may be amended or abrogated, the amount of bonds, the\nholders of which must consent thereto and the manner
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