New York Laws
Title 4 - Genesee Valley Regional Market Authority
882 - Notes of the Authority.

§ 882. Notes of the authority. The authority shall have power from
time to time to issue its negotiable notes in conformity with applicable
provisions of the uniform commercial code whenever the board 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 moneys to pay
preliminary costs of surveys, plans or other matters relating to any
proposed market facility. 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. Such notes may be renewed
from time to time but such notes, including the renewals thereof, shall
mature not later than three years from the date upon which such notes
are issued. Such notes shall be issued in the same manner and subject to
the same restrictions as to price and interest rate as bonds, except
that the board may determine the manner in which such notes shall be
sold. 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.