Section 661-A. Notes of the authority

The authority shall have power and is
  hereby  authorized  to  issue  negotiable  bond  anticipation  notes  in
  conformity with applicable provisions of the uniform commercial code and
  may renew the same from time to time but the  maximum  maturity  of  any
  such  note, including renewals thereof, shall not exceed five years from
  the date of issue of such original note. Such notes shall be  paid  from
  any moneys of the authority available therefor and not otherwise pledged
  or  from  the  proceeds  of  sale  of  the  bonds  of  the  authority in
  anticipation of which they were issued. The notes shall be issued in the
  same  manner  as  the  bonds  and  such  notes  and  the  resolution  or
  resolutions authorizing the same may contain any provisions, conditions,
  or limitations which the bonds or a bond resolution of the authority may
  contain.  Such  notes  may be sold at public or private sale at not less
  than par and shall bear such rate or rates  of  interest  as  the  board
  shall determine.
    Such notes shall be as fully negotiable as the bonds of the authority.
  In  the  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.