§ 1009-A — Notes of the authority

New York § 1009-A

• Jurisdiction: New York
• Law PBA: Public Authorities
• Title 1: Power Authority of the State of New York
• Art. 5: Public Utility Authorities

Text

§ 1009-a. Notes of the authority. The authority shall have the power\nand is hereby authorized from time to time to issue its negotiable notes\nin conformity with applicable provisions of the uniform commercial code\nfor any corporate purpose and renew from time to time any notes by the\nissuance of new notes, whether the notes to be renewed have or have not\nmatured. The authority may issue notes partly to renew notes or to\ndischarge other obligations then outstanding and partly for any other\npurpose. The notes may be authorized, sold, executed and delivered in\nthe same manner as bonds. Any resolution or resolutions authorizing\nnotes of the authority or any issue thereof may contain any provisions\nwhich the authority is authorized to include in any resolution or\nresolutions authorizing bonds of the authority or any issue thereof, and\nthe authority may include in any notes any terms, covenants or\nconditions which it is authorized to include in any bonds. All notes\nshall be general obligations of the authority payable out of any of its\nmoneys or revenues, subject only to any contractual rights of the\nholders of any of its notes or other obligations then outstanding.\n