2006 New York Code - Notes Of The Agency.

 
    §  866.  Notes of the agency. The agency shall have power from time to
  time to issue notes and from time to time to issue renewal notes (herein
  referred to as notes) maturing not later  than  five  years  from  their
  respective  original  dates  for any purpose or purposes for which bonds
  may be issued, whenever the agency shall determine that payment  thereof
  can be made in full from any moneys or revenues which the agency expects
  to  receive from any source. The agency may secure the notes in the same
  manner and with the same effect as herein provided for bonds. The  notes
  shall be issued in the same manner as bonds. The agency shall have power
  to make contracts for the future sale from time to time of the notes, by
  which  the purchasers shall be committed to purchase the notes from time
  to time on terms and conditions stated in such contracts, and the agency
  shall have power to pay such consideration as it shall deem  proper  for
  such commitments. In case of default on its notes or violation of any of
  the  obligations of the agency to the noteholders, the noteholders shall
  have all the remedies provided herein for bondholders. Such notes  shall
  be as fully negotiable as the bonds of the agency.