Marvin Mandel, Governor                           961

The notes may be authorized, sold, executed and delivered in the
same manner as bonds. Any resolution or resolutions authorizing
notes of the Authority or any issue thereof may contain any pro-
visions which the Authority is authorized to include in any resolu-
tion or resolutions authorizing revenue bonds of the Authority or
any issue thereof, and the Authority may include in any notes any
terms, covenants or conditions which it is authorized to include
in any bonds. All such notes shall be payable solely from the revenues
of the Authority, subject only to any contractual rights of the holders
of any of its notes or other obligations then outstanding.

11. Bonds.

(1) (A) The Authority is authorized from time to time to issue its
negotiable bonds for any corporate purpose. In anticipation of the
sale of such bonds the Authority may issue negotiable bond antici-
pation notes and may renew the same from time to time. Such notes
shall be paid from any revenues of the Authority or other monies
available therefor and not otherwise pledged, or from the proceeds
of sale of the bonds of the Authority in anticipation of which they
were issued. The notes shall be issued in the same manner as the
bonds. Such notes and the resolution or resolutions authorizing the
same may contain any provisions, conditions or limitations which
bond resolutions of the Authority may contain.

(2) (B) Except as may otherwise be expressly provided by the
Authority, every issue of its bonds, notes or other obligations shall be
general obligations of the Authority payable from any revenues or
monies of the Authority available therefor and not otherwise pledged,
subject only to any agreements with holders of particular bonds,
notes or other obligations pledging any particular revenues or monies
and subject to any agreements with any participating institution
for higher education or any participating hospital. Notwithstanding
that such bonds, notes or other obligations may be payable from a
special fund, they shall be and be deemed to be for all purposes nego-
tiable instruments, subject only to the provisions of such bonds,
notes or other obligations for registration.

(3) (C) The bonds may be issued as serial bonds or as term
bonds, or the Authority, in its discretion, may issue bonds of both
types. The bonds shall be authorized by resolution of the members of
the Authority and shall bear such date or dates, mature at such time
or times, not exceeding fifty (50) years from their respective dates,
bear interest at such rate or rates, be payable at such time or times,
be in such denominations, be in such form, either coupon or regis-
tered, carry such registration privileges, be executed in such manner,
be payable in lawful money of the United States of America at such
place or places, and may be subject to such terms of redemption, as
such resolution or resolutions may provide. The bonds or notes may
be sold at public or private sale for such price or prices as the Au-
thority shall determine. Pending preparation of the definitive bonds,
the Authority may issue interim receipts or certificates which shall
be exchanged for such definitive bonds.

(4) (D) Any resolution or resolutions authorizing any bonds or
any issue of bonds may contain provisions, which shall be part of the
contract with the holders of the bonds to be authorized, as to: