1.

1. (a) The corporation shall have power and is hereby authorized from time to time to issue its negotiable notes and bonds in conformity with applicable provisions of the uniform commercial code in such principal amount, as the corporation shall determine to be necessary, to provide sufficient funds for achieving its corporate purposes, including the making of payments to the city, the payment of interest on notes and bonds of the corporation, the establishment of reserves to secure such notes and bonds, and the payment of all operating expenses of the corporation and all other expenditures of the corporation incidental to or necessary or convenient to carry out its corporate purposes and powers.
2. (b) The corporation shall have the power, from time to time, to issue (i) notes to renew notes and (ii) bonds to pay notes, including the interest thereon and, whenever it deems refunding expedient, to refund any bonds by the issuance of new bonds, whether the bonds to be refunded have or have not matured, and to issue bonds partly to refund bonds then outstanding and partly for any of its other corporate purposes. The refunding bonds may be exchanged for the bonds to be refunded or sold and the proceeds applied to the purchase, redemption or payment of such bonds.
3. (c) Except as may otherwise be expressly provided by the corporation, every issue of its notes and bonds shall be general obligations of the corporation payable out of any revenues of the corporation, subject only to any agreements with the holders of particular notes or bonds pledging any particular revenues.
4. (d) The notes and bonds shall be authorized by resolution of the corporation, shall bear such date and shall mature at such time as such resolution may provide, except that no note or bond or the renewal or refunding thereof shall mature more than ten years from the date of the original issue of such note or bond. The bonds may be issued as serial bonds or as term bonds or as a combination thereof. Provision for the payment of principal of and interest on bonds shall be made in not more than ten approximately equal annual installments or in not more than twenty approximately equal semi-annual installments. The notes and bonds shall bear interest at such rate and shall be in such denomination, be in such form, either coupon or registered, carry such registration privileges, be executed in such manner, be payable in such medium of payment, at such place and be subject to such terms of redemption as such resolution may provide. The notes and bonds may be sold by the corporation at public or private sale, at such price as the corporation shall determine.

2. Any resolution authorizing any notes or bonds or any issue thereof may contain provisions, which shall be a part of the contract with the holders thereof, as to:

1. (a) pledging all or any part of the revenues to secure the payment of the notes or bonds or of any issue thereof, subject to such agreements with noteholders or bondholders as may then exist;
2. (b) pledging all or any part of the assets of the corporation to secure the payment of the notes or bonds or of any issue of notes or bonds, subject to such agreements with noteholders or bondholders as may then exist;
3. (c) the setting aside of reserves or sinking funds and the regulation and disposition thereof;
4. (d) limitations on the purpose to which the proceeds of sale of notes or bonds may be applied and pledging such proceeds to secure the payment of the notes or bonds or of any issue thereof;
5. (e) limitations on the issuance of additional notes or bonds; the terms upon which additional notes or bonds may be issued and secured; and the refunding of outstanding or other notes or bonds;
6. (f) the procedure, if any, by which the terms of any contract with noteholders or bondholders may be amended or abrogated, the amount of notes or bonds the holders of which must consent thereto, and the manner in which such consent may be given;
7. (g) limitations on the amount of moneys to be expended by the corporation for operating expenses of the corporation;
8. (h) vesting in a trustee such property, rights, powers and duties in trust as the corporation may determine, which may include any or all of the rights, powers and duties of the trustee appointed by the bondholders pursuant to this title, and limiting or abrogating the right of the bondholders to appoint a trustee under this title or limiting the rights, powers and duties of such trustee;
9. (i) the acts or omissions to act which shall constitute a default in the obligations and duties of the corporation to the holders of the notes or bonds and providing for the rights and remedies of the holders of the notes or bonds in event of such default, including the right to appointment of a receiver; providing, however, that such rights and remedies shall not be inconsistent with the general laws of the state and the other provisions of this title;
10. (j) any other matters, of like or different character, which in any way affect the security or protection of the holders of the notes or bonds.

5. The corporation, subject to such agreements with noteholders or bondholders as may then exist, shall have power out of any funds available therefor, to purchase notes or bonds of the corporation, which shall thereupon be cancelled, at a price not exceeding:

1. (a) if the notes or bonds are then redeemable, the redemption price then applicable.
2. (b) if the notes or bonds are not then redeemable, the redemption price applicable on the first date after such purchase upon which the notes or bonds became subject to redemption.