Section 2021. Notes of the authority  


Latest version.
  • The authority shall have power and is
      hereby authorized to issue negotiable bond anticipation  notes  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 interest at the legal interest rate. Such notes
      shall be as fully negotiable as the bonds of the authority.