Section 1599-JJJJ. Notes of the authority

The authority shall have power
  from time to time to issue notes and from time to time to issue  renewal
  notes  (herein  referred to as notes) maturing not later than five years
  from their respective original dates in an amount not exceeding  at  any
  time  seven hundred fifty thousand dollars, over and above the amount of
  bonds  authorized  by  subdivision  one  of  section   fifteen   hundred
  ninety-nine-iiii  of  this title, whenever the authority 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 funds to pay preliminary  costs
  of surveys, plans or other matters relating to any proposed project. 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.  The  notes shall be issued in the same manner as bonds. The
  authority shall have power to make contracts for the  future  sale  from
  time to time of the notes, by which the purchasers shall be committed to
  purchase  the  notes from time to time on terms and conditions stated in
  such  contracts,  and  the  authority  shall  have  power  to  pay  such
  consideration  as  it shall deem proper for such commitments. 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.