NY Pub Auth L § 829 (2021)
2021 New York Laws PBA - Public Authorities Article 4 - Market Authorities Title 2 - Central New York Regional Market Authority 829 - Bonds of the Authority.

§  829.  Bonds of the authority. 1. The authority shall have power and is hereby authorized from time to time  to  issue  negotiable  bonds  in conformity with applicable provisions of the uniform commercial code.   2. Such bonds shall be authorized by resolution of the board and shall bear  such  date  or  dates, mature at such time or times, not exceeding thirty years from their respective dates, bear interest at such rate  or rates,  not  exceeding  six  per  centum  per  annum payable annually or semiannually, be in such denomination or denominations, be in such form, either coupon or registered,  carry  such  registration  privileges,  be executed  in  such manner, be payable in such medium of payment, at such place or places, and be subject to such terms  of  redemption,  with  or without  premium,  as  such  resolution or resolutions may provide. Such bonds may be sold at public or private sale for such price or prices  as the  board  shall determine, provided that the interest cost to maturity of the money received for any issue of such bonds shall not  exceed  six per centum per annum.   3.  Such  bonds  may  be  issued  for  any  corporate  purpose  of the authority.   4. Any resolution or resolutions authorizing  any  bonds  may  contain provisions which shall be a part of the contract with the holders of the bonds as to  (a)  pledging  all  or  any  part  of the gross or net revenues of the authority to secure the payment of the bonds;  (b) the rentals and license fees to be charged for use of  the  market facilities  and  the  amounts  to  be raised in each year by rentals and license fees and the use and  disposition  of  such  rentals  and  other revenues;  (c)  the setting aside of reserves or sinking funds and the regulation and disposition thereof;  (d) limitations on the right of the authority and  its  successors  to restrict and regulate the use of the market facilities;  (e)  limitations  on  the purpose to which the proceeds of sale of any issue of bonds then or thereafter to be issued may be applied;  (f) limitations on the issuance of other or additional bonds;  (g) the procedure, if any, by which the terms  of  any  contract  with bondholders may be amended or abrogated, the amount of bonds the holders of which must give consent thereto, and the manner in which such consent may be given.   5. Neither the members of the board nor any person executing the bonds shall  be  liable  personally on the bonds or be subject to any personal liability by reason of the issuance thereof.   6. The authority shall have power out of any funds available  therefor to  purchase  any  bonds  issued  by  it  at  a  price not more than the principal amount thereof and accrued interest. All  bonds  so  purchased shall be cancelled.   7.  The authority shall have power, subject to the rights and with the consent of the  holders  of  any  outstanding  bonds  issued  under  the provisions  of  this title, to issue and sell or exchange its negotiable bonds to refund or to refinance all or  any  part  of  such  outstanding bonds. All bonds issued by virtue of this section shall be authorized by resolution  of  the  board  and  shall  be  issued  upon such terms, not inconsistent with the  provisions  of  this  title,  as  the  board  may determine.  Such bonds may be authorized in combination with and as part of an issue of bonds authorized to refund or to refinance and to be sold to provide funds  for  any  purpose  for  which  the  authority  is  now authorized to issue bonds.