New York § 1599-J Notes of the authority

New York Statutes

§ 1599-J — Notes of the authority

New York § 1599-J

Law PBAPublic Authorities

Title 14City of Binghamton Parking Authority

Art. 7Parking Authorities

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Bluebook

N.Y. Public Authorities § 1599-J (2026).

Text

  * § 1599-j. Notes of the authority. The authority shall have power\nfrom time to time to issue notes and from time to time to issue renewal\nnotes (herein referred to as notes) maturing not later than five years\nfrom their respective original dates in an amount not exceeding at any\ntime one million dollars, over and above the amount of bonds authorized\nby subdivision one of section fifteen hundred ninety-nine-i of this\ntitle, whenever the authority shall determine that payment thereof can\nbe made in full from any moneys or revenues which the authority expects\nto receive from any source. Such notes may, among other things, be\nissued to provide funds to pay preliminary costs of surveys, plans or\nother matters relating to any proposed project. The authority may pledge\nsuch moneys o

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* § 1599-j. Notes of the authority. The authority shall have power\nfrom time to time to issue notes and from time to time to issue renewal\nnotes (herein referred to as notes) maturing not later than five years\nfrom their respective original dates in an amount not exceeding at any\ntime one million dollars, over and above the amount of bonds authorized\nby subdivision one of section fifteen hundred ninety-nine-i of this\ntitle, whenever the authority shall determine that payment thereof can\nbe made in full from any moneys or revenues which the authority expects\nto receive from any source. Such notes may, among other things, be\nissued to provide funds to pay preliminary costs of surveys, plans or\nother matters relating to any proposed project. The authority may pledge\nsuch moneys or revenues (subject to any other pledge thereof) for the\npayment of the notes and may in addition secure the notes in the same\nmanner and with the same effect as herein provided for bonds. The notes\nshall be issued in the same manner as bonds. The authority shall have\npower to make contracts for the future sale from time to time of the\nnotes, by which the purchasers shall be committed to purchase the notes\nfrom time to time on terms and conditions stated in such contracts, and\nthe authority shall have power to pay such consideration as it shall\ndeem proper for such commitments. In case of default on its notes, or\nviolation of any of the obligations of the authority to the noteholders,\nthe noteholders shall have all the remedies provided herein for\nbondholders.\n * NB Authority ceased to exist 12/31/99\n * NB There are 4 § 1599-j's\n