New Jersey § 18a:71a-13

§ 18a:71a-13.

Except as may otherwise be expressly provided by the authority, every issue of its

bonds, notes or obligations shall be general obligations of the authority payable

from any revenues or moneys of the authority, subject only to any agreements with

the holders of particular bonds, notes or obligations pledging any particular revenues

or moneys. Notwithstanding that bonds, notes, and other obligations may be payable from a special

fund, they shall be fully negotiable within the meaning of Title 12A of the New Jersey

Statutes, the Uniform Commercial Code, subject only to the provision of the bonds,

notes, and other obligations for registration. 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 35 years

from their respective dates, bear interest at such rate or rates including, but not

limited to, fixed, variable, floating or adjustable interest rates, be payable at

such time or times, be in such denominations, be in such form, either coupon or registered,

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 be subject to such

terms of redemption, as the resolution or resolutions may provide. The bonds, notes or obligations may be sold at public or private sale for such price

or prices as the authority shall determine. Pending preparation of the definitive bonds, the authority may issue interim receipts

or certificates which shall be exchanged for the definitive bonds. At any time prior to the issuance and sale of bonds or other obligations by the authority

under this act, the State Treasurer is authorized to transfer from any available moneys

in any fund of the Treasury of the State to the credit of any fund of the authority

those sums which the State Treasurer may deem necessary. The sums so transferred shall be returned to the same fund of the Treasury of the

State by the State Treasurer from the proceeds of the sale of the first issue of authority

bonds, notes or other obligations issued for the same programmatic purpose as the

funds transferred by the State Treasurer.