Sec. 10a-229. Notes of authority.
Sec. 10a-229. Notes of authority. The authority may from time to time issue negotiable notes for any corporate purpose and may from time to time renew 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 provisions which
the authority is authorized to include in any resolution 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. Such
resolution or resolutions may delegate to the executive director, assistant executive
director, or any member of the board of directors of the authority or any combination
of them, the power to determine any of the details of the notes and to award such notes
to a purchaser or purchasers. 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.
(P.A. 82-313, S. 9, 28; P.A. 88-266, S. 26, 46.)
History: P.A. 88-266 added reference to board of directors.