Section 2318. Notes of the authority

The authority shall have power from
  time to time to issue notes and from time to time  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
  one  hundred  thousand  dollars,  over  and  above  the  amount of bonds
  authorized by subdivision one of section twenty-three hundred sixteen of
  this title, for any purpose or purposes for which bonds may  be  issued,
  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 studies, 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. Such notes shall be as fully negotiable as the bonds of the
  authority.