N.Y. Pub. Auth. Law § 2021

§ 2021. Notes of the authority. The authority shall have power and is\nhereby authorized to issue negotiable bond anticipation notes and may\nrenew the same from time to time but the maximum maturity of any such\nnote, including renewals thereof, shall not exceed five years from the\ndate of issue of such original note. Such notes shall be paid from any\nmoneys of the authority available therefor and not otherwise pledged or\nfrom the proceeds of sale of the bonds of the authority in anticipation\nof which they were issued. The notes shall be issued in the same manner\nas the bonds and such notes and the resolution or resolutions\nauthorizing the same may contain any provisions, conditions or\nlimitations which the bonds or a bond resolution of the authority may\ncontain. Such notes may be sold at public or private sale at not less\nthan par and shall bear interest at the legal interest rate. Such notes\nshall be as fully negotiable as the bonds of the authority.\n