§ 3236. Bonds and notes of the corporation. 1. (a) The corporation\nshall have power and is hereby authorized from time to time to issue its\nbonds and notes in such principal amount or amounts, subject to\nsubdivision eight of this section, as the corporation shall determine to\nbe necessary, to provide sufficient funds for achieving its corporate\npurposes, including the making of payments pursuant to section three\nthousand two hundred thirty-eight of this title, the payment of interest\non bonds and notes of the corporation, the establishment of reserves to\nsecure such bonds and notes, the payment of amounts required under bond\nor note facilities or agreements relating thereto, and the payment of\nall costs of issuance of its bonds and notes.\n (b) The corporation shall have the power and is hereby authorized from\ntime to time to issue (i) notes to renew notes and (ii) bonds to pay\nnotes, including the interest thereon and, whenever it deems refunding\nexpedient, to refund any bonds by the issuance of new bonds, whether the\nbonds to be refunded have or have not matured, and to issue bonds partly\nto refund bonds then outstanding and partly for any of its other\ncorporate purposes. The refunding bonds may be exchanged for the bonds\nto be refunded or sold and the proceeds applied to the purchase,\nredemption or payment of such bonds.\n (c) Except as may otherwise be expressly provided by the corporation,\nevery issue of its bonds and notes shall be general obligations of the\ncorporation payable out of any revenues of the corporation, subject only\nto any agreements with the holders of particular bonds or notes pledging\nany particular revenues.\n (d) (i) Bonds and notes shall be authorized by resolution of the\ncorporation, be in such denominations and bear such date or dates and\nmature at such time or times, as such resolution may provide, provided\nthat bonds and notes and renewals or refundings thereof shall mature on\na date not later than December thirty-first, two thousand twenty-five\nnor more than thirty years from the date of original issuance.\n (ii) Bonds and notes shall be subject to such terms of redemption,\nbear interest at such rate or rates, be payable at such times, be in\nsuch form, either coupon, registered or book entry form, carry such\nregistration privileges, be executed in such manner, be payable in such\nmedium of payment at such place or places, and be subject to such terms\nand conditions as such resolution may provide.\n (e) Such bonds shall be sold to the bidder offering the lowest\ninterest cost to the corporation, taking into consideration any premium\nor discount and, in the case of refunding bonds, the bona fide initial\npublic offering price, not less than four nor more than fifteen days,\nSundays excepted, after a notice of such sale has been published at\nleast once in a definitive trade publication of the municipal bond\nindustry published on each business day in the state of New York which\nis generally available to participants in the municipal bond industry,\nwhich notice shall state the terms of the sale. The corporation may not\nchange the terms of the sale unless notice of such change is sent via a\ndefinitive trade wire service of the municipal bond industry which, in\ngeneral, makes available information regarding activity and sales of\nmunicipal bonds and is generally available to participants in the\nmunicipal bond industry, at least one hour prior to the time of the sale\nas set forth in the original notice of sale. In so changing the terms or\nconditions of a sale the corporation may send notice by such wire\nservice that the sale will be delayed by up to thirty days, provided\nthat wire notice of the new sale date will be given at least one\nbusiness day prior to the new time when bids will be accepted. In such\nevent, no new notice of sale shall be required to be published.\nAdvertisements shall contain a provision to the effect that the\ncorporation, in its di
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