New York Laws
Title 14 - Broome County Sports Center Authority
2060 - Notes of the Authority.

* § 2060. Notes of the authority. The authority shall have power from
time to time to issue negotiable notes in conformity with applicable
provisions of the uniform commercial code and from time to time to issue
renewal notes, herein referred to as notes, maturing not later than five
years from their respective dates in an amount which, together with
bonds then outstanding, shall not at any one time exceed the amount
stated in subdivision a. of section nineteen hundred eighty-four of this
title excluding bonds issued to fund said notes. Subject to any
agreements with bondholders thereof the authority may pledge such moneys
or revenues 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.

* NB Authority dissolved September 1, 1977