§ 2490-i. Bonds of the authority. 1. The authority shall have the\npower and is hereby authorized from time to time to issue its negotiable\nbonds in conformity with applicable provisions of the uniform commercial\ncode for its corporate purposes in the aggregate principal amount of not\nexceeding fifteen million dollars. The authority shall have power from\ntime to time and whenever it deems refunding expedient to refund any\nbonds by the issuance of new bonds, whether the bonds to be refunded\nhave or have not matured, and may issue bonds partly to refund bonds\nthen outstanding and partly for any other purpose hereinabove described.\nIn computing the total amount of bonds of the authority, which may at\nany time be outstanding, the amount of the outstanding bonds to be\nrefunded from the proceeds of the sale of new bonds or by exchange for\nnew bonds shall be excluded. Except as may otherwise be expressly\nprovided by the authority, the bonds of every issue shall be general\nobligations of the authority payable out of any moneys or revenues of\nthe authority, subject only to any agreements with the holders of\nparticular bonds pledging any particular moneys or revenues.\n 2. Bonds shall be authorized by resolution of the authority, be in\nsuch denominations and bear such date or dates, mature at such time or\ntimes, except that notes and any renewals thereof shall mature within\nfive years from the date of the original issuance and bonds and any\nrenewals thereof shall mature within thirty years from the date of the\noriginal issuance. The bonds and notes shall be subject to such terms of\nredemption, bear interest at such rate or rates payable at such times,\nbe in such form, either coupon or registered, 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 authority shall\ndetermine.\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 contracts, earnings or proceeds of any grant to the\nauthority received from any private or public source;\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 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 in which such\nconsent may be given;\n (h) The creation of special funds into which any revenues or moneys\nmay be deposited;\n (i) The terms and provisions of any trust deed or indenture securing\nthe bonds under which the bonds may be issued;\n (j) Vesting in a trustee or trustees such properties, rights, powers\nand duties in trust as the authority may determine which may include any\nor all of the rights, powers and duties of the trustee appointed by the\nbondholders pursuant to section twenty-four hundred ninety-j of this\ntitle and limiting or abrogating the
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