§ 611. Issuance of bonds and notes by corporation. 1. The corporation\nshall have the power and is hereby authorized, from time to time, to\nissue negotiable bonds and notes in such aggregate principal amounts as\nshall, in the opinion of the corporation, be necessary together with\nsuch other moneys or funds as may be available to the corporation, to\nprovide funds sufficient to enable the corporation to carry out its\ncorporate purposes, including the acquisition, construction, maintenance\nand repair of personal and real property, the payment of interest on and\namortization of, or payment of such bonds and notes, the establishment\nof reserves or sinking funds to secure such bonds and notes, and all\nother expenditures of the corporation incident to and necessary or\ndesirable for the carrying out of its corporate purposes and the\nexercise of its powers. Except as may otherwise be expressly provided by\nthe corporation, every issue of its bonds and notes shall be general\nobligations of the corporation payable out of any revenues or moneys of\nthe corporation, subject only to any agreements with the holders of\nparticular bonds or notes pledging any particular revenues or moneys.\nWhether or not the bonds or notes are of such form and character as to\nbe negotiable instruments under the provisions of article eight of the\nuniform commercial code, the bonds and notes shall be and are hereby\nmade negotiable instruments within the meaning of and for all the\npurposes of article eight of the uniform commercial code, subject only\nto the provisions of the bonds or notes for registration.\n 2. The corporation shall have the power and is hereby authorized, from\ntime to time, to issue renewal notes, and to refund any bonds by the\nissuance of new bonds, whether the bonds to be refunded have or have not\nmatured, and to issue bonds to pay notes or partly to refund bonds then\noutstanding.\n 3. The said bonds and notes shall be authorized by resolution or\nresolutions of the board, and shall mature as such resolution or\nresolutions may provide. Bonds and notes shall bear interest at such\nrate or rates, be in such denominations, be in such form, either coupon\nor registered, carry such registration privileges, be executed in such\nmanner, be payable in such medium of payment, at such place or places,\nand be subject to such terms of redemption as such resolution or\nresolutions may provide. Bonds and notes may be sold by the corporation\nat public or private sale at such price or prices as the corporation\nshall determine; provided, however, that no such bonds or notes may be\nsold at a private sale unless the sale and the terms thereof have been\napproved by the comptroller in writing.\n 4. Any resolution or resolutions authorizing any bonds or notes may\ncontain provisions, which shall be a part of the contract or contracts\nwith the holders thereof, as to:\n a. pledging all or any part of the moneys or revenues or other assets\nof the corporation to secure the payment of such bonds or notes;\n b. the setting aside of reserves or sinking funds and the regulation\nor disposition thereof;\n c. limitations on the purposes to which the proceeds of the sale of\nany issue of bonds or notes then or thereafter to be issued may be\napplied and pledging such proceeds to secure the payment of the bonds or\nnotes or any issue thereof;\n d. limitations on the issuance of additional bonds or notes; the terms\nupon which such additional bonds or notes may be issued and secured; the\nrefunding of outstanding bonds or notes;\n e. the procedures, if any, by which the terms of any contract with the\nholders of bonds or notes may be extended or abrogated, the amount of\nbonds or notes the holders of which must consent thereto and the manner\nin which such consent may be given;\n f. the creation of special funds into which any moneys or revenues of\nthe corporation may be deposited;\n g. limitations on the amounts that the corporation ma
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