Bonds of the Authority shall be authorized by resolution setting forth themaximum principal amount issuable and may be issued in one or more series,shall be dated, shall mature at such time or times not exceeding forty yearsfrom their date and may be made redeemable or subject to tender beforematurity, at the option of the Authority, at such price or prices and undersuch terms and conditions as may be fixed by the Authority or its agentsprior to issuance. Bonds of the Authority shall bear interest payable at suchtimes and at such rates as may be determined by the Authority, or as may bedetermined in such manner as the Authority or its agents may provide,including rates approved by officers of the Authority under authorization ofthe Board, rates tied to indices, rates of other securities or otherstandards and determinations by agents designated by the Authority underguidelines established by the Authority.
The Authority shall determine the form of its bonds and the manner ofexecution and shall fix the denominations thereof and the place or places ofpayment of principal and interest, which may be at any bank or trust companyor securities depository within or without the Commonwealth. The bonds may beissued in coupon or registered form, or both, and provision may be made fortheir registration in whole or in part. Bonds issued in registered form maybe issued under a system of book-entry for recording the ownership andtransfer of ownership of rights to receive payments thereon. If any officerwhose signature or a facsimile of whose signature shall appear on any bondsor coupons shall cease to be such officer before delivery of such bond, suchsignature or such facsimile shall nevertheless be valid and sufficient forall purposes. The Authority may contract for the services of one or morebanks, trust companies, financial institutions or other entities or persons,within or outside the Commonwealth, for the authentication, registration,transfer, exchange and payment of bonds, or may provide such services itself.The Authority may sell such bonds in such manner, either at public or privatesale, and for such price, as it may determine.
Notwithstanding any of the other provisions of this chapter or any recitalsin any bonds issued under the provisions of this chapter, all such bondsshall be deemed to be negotiable instruments under the laws of theCommonwealth.
Prior to the preparation of definitive bonds, the Authority may issue interimreceipts or temporary bonds, exchangeable for definitive bonds when suchbonds shall have been executed and are available for delivery. The Authoritymay also provide for the replacement of any mutilated, destroyed, stolen orlost bonds.
Bonds of the Authority shall be authorized by resolution setting forth themaximum principal amount issuable and may be issued in one or more series,shall be dated, shall mature at such time or times not exceeding forty yearsfrom their date and may be made redeemable or subject to tender beforematurity, at the option of the Authority, at such price or prices and undersuch terms and conditions as may be fixed by the Authority or its agentsprior to issuance. Bonds of the Authority shall bear interest payable at suchtimes and at such rates as may be determined by the Authority, or as may bedetermined in such manner as the Authority or its agents may provide,including rates approved by officers of the Authority under authorization ofthe Board, rates tied to indices, rates of other securities or otherstandards and determinations by agents designated by the Authority underguidelines established by the Authority.
The Authority shall determine the form of its bonds and the manner ofexecution and shall fix the denominations thereof and the place or places ofpayment of principal and interest, which may be at any bank or trust companyor securities depository within or without the Commonwealth. The bonds may beissued in coupon or registered form, or both, and provision may be made fortheir registration in whole or in part. Bonds issued in registered form maybe issued under a system of book-entry for recording the ownership andtransfer of ownership of rights to receive payments thereon. If any officerwhose signature or a facsimile of whose signature shall appear on any bondsor coupons shall cease to be such officer before delivery of such bond, suchsignature or such facsimile shall nevertheless be valid and sufficient forall purposes. The Authority may contract for the services of one or morebanks, trust companies, financial institutions or other entities or persons,within or outside the Commonwealth, for the authentication, registration,transfer, exchange and payment of bonds, or may provide such services itself.The Authority may sell such bonds in such manner, either at public or privatesale, and for such price, as it may determine.
Notwithstanding any of the other provisions of this chapter or any recitalsin any bonds issued under the provisions of this chapter, all such bondsshall be deemed to be negotiable instruments under the laws of theCommonwealth.
Prior to the preparation of definitive bonds, the Authority may issue interimreceipts or temporary bonds, exchangeable for definitive bonds when suchbonds shall have been executed and are available for delivery. The Authoritymay also provide for the replacement of any mutilated, destroyed, stolen orlost bonds.
Bonds of the Authority shall be authorized by resolution setting forth themaximum principal amount issuable and may be issued in one or more series,shall be dated, shall mature at such time or times not exceeding forty yearsfrom their date and may be made redeemable or subject to tender beforematurity, at the option of the Authority, at such price or prices and undersuch terms and conditions as may be fixed by the Authority or its agentsprior to issuance. Bonds of the Authority shall bear interest payable at suchtimes and at such rates as may be determined by the Authority, or as may bedetermined in such manner as the Authority or its agents may provide,including rates approved by officers of the Authority under authorization ofthe Board, rates tied to indices, rates of other securities or otherstandards and determinations by agents designated by the Authority underguidelines established by the Authority.
The Authority shall determine the form of its bonds and the manner ofexecution and shall fix the denominations thereof and the place or places ofpayment of principal and interest, which may be at any bank or trust companyor securities depository within or without the Commonwealth. The bonds may beissued in coupon or registered form, or both, and provision may be made fortheir registration in whole or in part. Bonds issued in registered form maybe issued under a system of book-entry for recording the ownership andtransfer of ownership of rights to receive payments thereon. If any officerwhose signature or a facsimile of whose signature shall appear on any bondsor coupons shall cease to be such officer before delivery of such bond, suchsignature or such facsimile shall nevertheless be valid and sufficient forall purposes. The Authority may contract for the services of one or morebanks, trust companies, financial institutions or other entities or persons,within or outside the Commonwealth, for the authentication, registration,transfer, exchange and payment of bonds, or may provide such services itself.The Authority may sell such bonds in such manner, either at public or privatesale, and for such price, as it may determine.
Notwithstanding any of the other provisions of this chapter or any recitalsin any bonds issued under the provisions of this chapter, all such bondsshall be deemed to be negotiable instruments under the laws of theCommonwealth.
Prior to the preparation of definitive bonds, the Authority may issue interimreceipts or temporary bonds, exchangeable for definitive bonds when suchbonds shall have been executed and are available for delivery. The Authoritymay also provide for the replacement of any mutilated, destroyed, stolen orlost bonds.
