§ 2437. Bonds and notes of the agency. (1) Subject to the provisions\nof section two thousand four hundred thirty-eight of this title, the\nagency shall have the power and is hereby authorized from time to time\nto issue its negotiable bonds and notes in conformity with applicable\nprovisions of the uniform commercial code in such principal amounts as,\nin the opinion of the agency, shall be necessary to provide sufficient\nfunds for achieving the corporate purposes thereof, including the\npurchase of municipal bonds, the providing of certain amounts to special\nprogram municipalities from the proceeds of special program bonds, the\nproviding of certain amounts to special school purpose municipalities\nfrom the proceeds of special school purpose bonds, the providing of\ncertain amounts to a special school deficit program district from the\nproceeds of special school deficit program bonds, the payment of\ninterest on bonds and notes of the agency, establishment of reserves to\nsecure such bonds and notes, payment of letter of credit, bond insurance\nand other credit and liquidity support facility fees, premiums,\nreimbursements and expenses, fees and expenses of trustees and paying\nagents and other financing costs including any accrued costs payable to\nthe New York state housing finance agency pursuant to any contract\nentered into under subdivision twelve of section two thousand four\nhundred thirty-four of this title and all other expenditures of the\nagency incident to and necessary or convenient to carry out its\ncorporate purposes and powers, except the operating expenses of the\nagency.\n (2) Except as may otherwise be expressly provided by the agency, all\nbonds and notes issued by the agency shall be general obligations of the\nagency, secured by the full faith and credit of the agency and may be\npayable out of any moneys, assets, or revenues of the agency, subject\nonly to any agreements with holders of particular bonds or notes\npledging any particular moneys, assets or revenues, all as may be\ndesignated in the proceedings of the agency under which the bonds or\nnotes shall be authorized to be issued.\n (3) Bonds and notes shall be authorized by a resolution or resolutions\nof the agency adopted as provided by this title; provided, however, that\nany such resolution authorizing the issuance of bonds or notes may\ndelegate to an officer of the agency the power to issue such bonds or\nnotes from time to time and to fix the details of any such issues of\nbonds or notes by an appropriate certificate of such authorized officer.\n (4) Such bonds or notes shall bear such date or dates, shall mature at\nsuch time or times, shall bear interest at such rate or rates, shall be\nof such denominations, shall be in such form, carry such registration\nprivileges, be executed in such manner, be payable in lawful money of\nthe United States of America at such place or places within or without\nthe state, be subject to such terms of redemption prior to maturity and\nhave such other terms as may be provided by such resolution or\nresolutions or such certificate with respect to such bonds or notes, as\nthe case may be; provided, however, that the maximum maturity of bonds\nother than special program bonds, special school purpose bonds or\nspecial school deficit program bonds shall not exceed forty years from\nthe date thereof, the maximum maturity of special program bonds shall\nnot exceed thirty years, the maximum maturity of special school purpose\nbonds shall not exceed twenty years, the maximum maturity of special\nschool deficit program bonds shall not exceed ten years and the maximum\nmaturity of notes or any renewals thereof shall not exceed five years\nfrom the date of the original issue of such notes.\n (5) Any bonds or notes of the agency other than special program bonds,\nspecial school purpose bonds, special school deficit program bonds,\nrecovery act bonds or public safety communications bonds shall be sold\nat publ
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