2006 New York Code - Notes Of The Authority.

 
    §  882.  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  whenever  the  board  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 moneys to pay
  preliminary costs of surveys, plans or other  matters  relating  to  any
  proposed  market  facility.  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. Such notes may be  renewed
  from  time to time but such notes, including the renewals thereof, shall
  mature not later than three years from the date upon  which  such  notes
  are issued. Such notes shall be issued in the same manner and subject to
  the  same  restrictions  as  to price and interest rate as bonds, except
  that the board may determine the manner in which  such  notes  shall  be
  sold.  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.