Marvin Mandel, Governor                           485

(b) The provisions of Article 15A, sections 1 through 12, of
Article 31, Article 32A, Article 64A, Article 73B and Article 78A
of this Code shall not be applicable to the Authority or to its officers
and employees.

147.    Issuance of notes.

The Authority shall have the power and is hereby authorized
from time to time to issue its negotiable notes for any corporate
purpose and renew from time to time any notes by the issuance of
new notes, whether the notes to be renewed have or have not matured.
The Authority may issue notes partly to renew notes or to discharge
other obligations then outstanding, and partly for any other purpose.
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 resolution
or resolutions authorizing bonds of the Authority or any issue there-
of, 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 and funds of the
Authority.

148.    Bond issues and bond anticipation notes.

(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 moneys
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.

(b)  Except as may otherwise be expressly provided by the Author-
ity, every issue of its bonds, notes or other obligations shall be gen-
eral obligations of the Authority payable from any revenues or
moneys 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
moneys. Notwithstanding that such bonds, notes or other obligations
are payable from a special fund, they shall be and be deemed to be
for all purposes negotiable instruments, subject only to the pro-
visions of such bonds, notes or other obligations for registration.

(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 forty (40) 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,