2006 New York Code - Notes Of The Authority.

 
    §  1595-j. Notes of the authority. The authority shall have power from
  time to time to issue its negotiable notes in conformity with applicable
  provisions of the uniform commercial code and from time to time to issue
  renewals of such 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 one hundred thousand dollars, over and  above  the
  amount of bonds authorized by subdivision one of section fifteen hundred
  ninety-five-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.