§ 2053-j. Bonds of the authority. 1. The authority shall have the\npower and is hereby authorized from time to time to issue bonds or notes\nin such principal amounts as it may determine to be necessary to pay the\ncost of any project or for any other corporate purpose, including\nincidental expenses in connection therewith. The authority shall have\npower and is hereby authorized to enter into such agreements and perform\nsuch acts as may be required under any applicable federal legislation to\nsecure a federal guarantee of any bonds. The authority shall have power\nfrom time to time to refund any bonds by the issuance of new bonds\nwhether the bonds to be refunded have or have not matured, and may issue\nbonds partly 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. The authority may also enter into loan agreements,\nlines of credit and other security agreements and obtain for or on its\nbehalf letters of credit in each case for securing its bonds or to\nprovide direct payment of any costs which the authority is authorized to\npay.\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, except that notes and any\nrenewals thereof shall mature within five years from the date of the\noriginal issuance and bonds and any renewals thereof shall mature within\nthirty years from the date of the original issuance of any such bonds or\nnotes. The bonds and notes shall be subject to such terms of redemption,\nbear interest at such rate or rates payable at such times, be in such\nform, either coupon or registered, carry such registration privileges,\nbe executed in such manner, be payable in such medium of 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. Bonds of the\nauthority shall not be sold by the authority at private sale unless such\nsale and the terms thereof have been approved in writing by the state\ncomptroller where such sale is not to be to such comptroller, or by the\nstate director of the budget where such sale is to said comptroller. The\nauthority 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 property\nof the authority to secure the payment of the bonds, including but not\nlimited to, any assets, contracts, investment securities, earnings or\nproceeds of any grant to the authority received from any private or\npublic source, subject to such agreements with bondholders as may then\nexist;\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) li
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