2006 New York Code - Bonds And Notes Of The Authority.

 
    *  §  2468.  Bonds  and notes of the authority. 1. All bonds and notes
  issued by the authority may be secured by the full faith and  credit  of
  the  authority  subject  only  to  any  agreements  with  the holders of
  particular bonds pledging any  particular  revenues  or  moneys  of  the
  authority,  all  as  may be provided in the proceedings of the authority
  pursuant to which the bonds or notes shall be authorized to be issued.
    2. Bonds and notes issued by the authority shall  bear  such  date  or
  dates and shall mature at such time or times as shall be provided by any
  such  resolution  of  the  authority, except that no note or any renewal
  thereof shall mature more than five years from the date of the  original
  note and no bond shall mature more than forty years from the date of its
  issue.
    3.  Bonds  may be issued in one or more series as serial bonds payable
  in annual installments or as term bonds or  as  a  combination  thereof.
  Bonds  and  notes  shall bear interest at such rate or rates, be in such
  denominations, be in such form either payable to bearer with coupons  or
  registered,  carry  such  registration  privileges,  be executed in such
  manner, be payable in such medium of payment, at such  place  or  places
  within or without the state, and be subject to such terms of redemption,
  with  or  without  premium, as may be provided by any such resolution of
  the authority. Any signature, manual or facsimile, of an officer of  the
  authority  appearing  on  bonds  or  notes or coupons shall be valid and
  sufficient for all purposes whether or not such officer shall then be in
  office. The authority may also provide for  the  authentication  of  the
  bonds or notes by a trustee or fiscal agent.
    4.  The  resolution authorizing the issuance of any bonds or notes may
  provide that such bonds and notes  may  be  payable  at  such  place  or
  places,  within  or without the state, may bear interest at such rate or
  rates, may be payable at such time or times, may be  in  such  form  and
  evidenced  in  such  manner,  and  may contain such other provisions not
  inconsistent herewith, including provisions as  to  reserve  or  sinking
  funds,  security  for  the  payment  of  bonds  or  notes, redemption or
  refunding of bonds or notes, events of default, remedies of  bondholders
  or  noteholders,  appointment  of  trustees  or  fiscal agents, custody,
  collection, securing,  investment  and  payment  of  any  money  of  the
  authority  and  amendment  or  abrogation of such provisions, all as the
  authority shall determine.
    5. Any bonds or notes of the authority may be sold at  such  price  or
  prices,  at public or private sale, in such manner and from time to time
  as may be determined by the authority, and the  authority  may  pay  all
  expenses,  premiums  and  commissions  which  it  may  deem necessary or
  advantageous in connection with the issuance and sale thereof. No  bonds
  or  notes  of the authority may be sold at private sale, however, unless
  such sale and the terms thereof have been approved in writing by (i) the
  comptroller of the state of New York where such  sale  is  not  to  such
  comptroller, or (ii) the state director of the budget where such sale is
  to such comptroller.
    6.  The  authority  may  issue  one  or  more series of bonds or notes
  whether in connection with or secured by the same or a different project
  or  portion  thereof  except  as  may  otherwise  be  provided  in   the
  proceedings  under  which  such bonds or notes shall be authorized to be
  issued.
    7. Neither the  members,  directors,  officers  or  employees  of  the
  authority  nor  any person executing the bonds or notes of the authority
  shall be liable personally on the bonds or notes or be  subject  to  any
  personal liability or accountability by reason of the issuance thereof.
    8.  Issuance  by the authority of one or more series of bonds or notes
  for one or more purposes shall not preclude it from issuing other  bonds
  or notes in connection with the same sports facility or any other sports
  facility,  but  the proceedings whereunder any subsequent bonds or notes
  may be issued shall recognize and protect any prior pledge or lease made
  for  any  prior  issue  of  bonds  or  notes  unless  in the proceedings
  authorizing such prior issue the right is reserved to  issue  subsequent
  bonds or notes on a parity with such prior issue.
    9.  All  bonds or notes authorized under this section and the interest
  coupons applicable thereto are hereby made and shall be construed to  be
  negotiable instruments.
    10. The authority shall have power out of any funds available therefor
  to  purchase  (as  distinguished  from  the  power  of redemption herein
  provided) any bonds  or  notes  of  the  authority,  and  all  bonds  so
  purchased shall be cancelled.
    * NB (Disbanded March, 1980)