2006 New York Code - Notes Of The Authority.

 
    §  1493-j. Notes of the authority. The authority 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 in an amount not exceeding at any time
  five million dollars, over and above the amount of bonds  authorized  by
  subdivision  one  of  section  fourteen  hundred  ninety-three-i of this
  title, for any purpose or  purposes  for  which  bonds  may  be  issued,
  whenever  the authority shall determine that payment thereof can be made
  in full from any moneys or  revenues  which  the  authority  expects  to
  receive  from  any source. Such notes may, among other things, be issued
  to provide funds to pay preliminary costs of  surveys,  plans  or  other
  matters  relating to any proposed project. The authority may pledge such
  moneys or revenues (subject to any other pledge thereof) for the payment
  of the notes and may in addition 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 authority 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
  authority  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 authority to the noteholders,
  the  noteholders  shall  have  all  the  remedies  provided  herein  for
  bondholders.