2006 New York Code - Notes Of The Authority.

 
    §  1057. Notes of the authority. The authority shall have power and is
  hereby  authorized  to  issue  negotiable  bond  anticipation  notes  in
  conformity with applicable provisions of the uniform commercial code and
  may  renew  the  same  from time to time but the maximum maturity of any
  such note, including renewals thereof, shall not exceed five years  from
  the  date  of issue of such original note. Such notes shall be paid from
  any moneys of the authority available therefor and not otherwise pledged
  or from  the  proceeds  of  sale  of  the  bonds  of  the  authority  in
  anticipation of which they were issued. The notes shall be issued in the
  same  manner  as  the  bonds  and  such  notes  and  the  resolution  or
  resolutions authorizing the same may contain any provisions,  conditions
  or limitations which the bonds or a bond resolution of the authority may
  contain.  Such  notes  may  be  sold, at public or private sale for such
  price or prices and shall bear interest at such rate or rates per  annum
  as  the  authority  shall  determine provided, however, that any private
  sale shall be subject to the approval  of  the  state  comptroller.  The
  foregoing  provisions  shall  be  applicable  to  notes  issued  by  the
  authority notwithstanding the provisions of any other  general,  special
  or local law to the contrary. Such notes shall be as fully negotiable as
  the bonds of the authority.
    The  maturity  of  notes  issued  by the authority for payments to any
  party or person entitled to an award in condemnation in advance  of  the
  determination  of the final award, may be extended beyond five years and
  until such time as the final award is ascertained and paid.