§ 14. Bonds and notes of the corporation. (1) Subject to the\nprovisions of subdivision (2) of section sixteen of this act, the\ncorporation shall have the power and is hereby authorized from time to\ntime to issue its negotiable bonds and notes in such principal amounts,\nas, in the opinion of the corporation, shall be necessary to provide\nsufficient funds for achieving any of its corporate purposes, including\nthe payment of interest on bonds and notes of the corporation,\nestablishment of reserves to secure such bonds and notes, and all other\nexpenditures of the corporation incident to and necessary or convenient\nto carry out its corporate purposes and powers.\n (2) All bonds and notes issued by the corporation shall be general\nobligations of the corporation payable out of any revenues or monies of\nthe agency, subject only to any agreements with the holders of\nparticular notes or bonds pledging any particular revenues or receipts,\nexcept as may otherwise be expressly provided by the corporation. Such\nbonds and notes may be executed and delivered by the corporation at any\ntime and from time to time, may be in such form and denominations and of\nsuch tenor and maturities, may be in bearer form or in registered form,\nas to principal and interest or as to principal alone, all as the\ncorporation may determine.\n (3) Bonds may be payable in such installments and at such time or\ntimes as shall be determined by the corporation, not exceeding fifty\nyears from the date thereof.\n (4) Notes, or any renewals thereof, may be payable in such\ninstallments and at such time or times as shall be determined by the\ncorporation, not exceeding ten years from the date of the original issue\nof such notes.\n (5) Bonds and notes may be payable at such place or places whether\nwithin or without the state, may bear interest at such rate or rates\npayable at such time or times and at such place or places and evidenced\nin such manner, and may contain such provisions not inconsistent\nherewith, all as shall be provided in the proceedings of the corporation\nunder which the bonds or notes shall be authorized to be issued.\n (6) If deemed advisable by the corporation, there may be retained in\nthe proceedings under which any bonds or notes of the corporation are\nauthorized to be issued an option to redeem all or any part thereof as\nmay be specified in such proceedings at such price or prices and after\nsuch notice or notices and on such terms and conditions as may be set\nforth in such proceedings, and as may be recited on the face of the\nbonds or notes, but nothing herein contained shall be construed to\nconfer on the corporation any right or option to redeem any bonds or\nnotes except as may be provided in the proceedings under which they\nshall be issued.\n (7) Any bonds or notes of the corporation may be sold at such price or\nprices, at public or private sale, in such manner and from time to time\nas may be determined by the corporation, and the corporation may pay all\nexpenses, premiums and commissions which it may deem necessary or\nadvantageous in connection with the issuance and sale thereof. No bonds\nor notes of the corporation may be sold at private sale, however, unless\nsuch sale and the terms thereof have been approved in writing by (a) the\ncomptroller where such sale is not to the comptroller or (b) the state\ndirector of the budget, where such sale is to the comptroller.\n (8) Any moneys of the corporation, including proceeds from the sale or\nany bonds or notes, and revenues, receipts and income from any of its\nprojects or mortgages, may be invested and reinvested in such\nobligations, securities and other investments as shall be provided in\nthe resolution or resolutions under which such bonds or notes are\nauthorized.\n (9) The resolution under which the bonds or notes are authorized to be\nissued shall contain provisions that\n (a) title to any industrial project for the acquisition, construction,\nrecon
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