2023 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.