The authority or any successor thereto shall have power and is authorized at one time, or from time to time, to provide by resolution for the issuance of negotiable revenue bonds in addition to those which have already been issued by the authority, in a sum not to exceed the total sum of $90 million outstanding at any time, for the purpose of paying all or any part of the cost of any one or more projects under or for any department or agency of the state. The principal and interest of such revenue bonds shall be payable solely from the special fund provided in this article for such payment. The bonds of each issue shall be dated, shall bear interest at such rate or rates payable semiannually, shall mature at such time or times not exceeding 40 years from their date or dates, and shall be payable in such medium of payment as to both principal and interest as may be determined by the authority; the bonds may be redeemable before maturity, at the option of the authority, at such price or prices and under such terms and conditions as may be fixed by the authority in the resolution providing for the issuance of the bonds. The authority shall determine the forms of the bonds, including any interest coupons to be attached thereto, and shall fix the denomination or denominations of the bonds and the place or places of payment of principal and interest thereof, which may be at any bank or trust company within or outside the state. In case any officer whose signature shall appear on any bonds or whose facsimile signature shall appear on any coupon shall cease to be such officer before the delivery of such bonds, such signature shall nevertheless be valid and sufficient for all purposes as if he had remained in office until such delivery. All such bonds shall be signed by the chairman of the authority and the official seal of the authority shall be affixed thereto and attested by the secretary-treasurer of the authority and any coupons attached thereto shall bear the facsimile signature of the chairman of the authority. Any coupon may bear the facsimile signature of such person and any bond may be signed, sealed, and attested on behalf of the authority by such persons as at the actual time of the execution of issuance of such bonds shall be duly authorized or hold the proper office, although at the date of issuance of such bonds such persons may not have been so authorized or shall not have held such office. All revenue bonds issued under this article shall have and are declared to have all the qualities and incidents of negotiable instruments under the laws of the state. Such bonds and the income thereof shall be exempt from all taxation within the state. The bonds may be issued in coupon or in registered form, or both, as the authority may determine, and provision may be made for the registration of any coupon bond as to principal alone and also as to both principal and interest. The authority may sell such bonds in such manner and for such price as it may determine to be in the best interest of the authority. The proceeds of such bonds shall be used solely for the payment of the cost of the project or projects and shall be disbursed upon requisition or order of the chairman of the authority under such restrictions, if any, as the resolution authorizing the issuance of the bonds or the trust indenture hereinafter mentioned in this article may provide. If the proceeds of such bonds, by error of calculation or otherwise, shall be less than the cost of the project or projects, unless otherwise provided in the resolution authorizing the issuance of the bonds or in the trust indenture, additional bonds may in like manner be issued to provide the amount of such deficit which, unless otherwise provided in the resolution authorizing the issuance of the bonds or in the trust indenture, shall be deemed to be of the same issue and shall be entitled to payment from the same funds, without preference or priority, of the bonds first issued for the same purpose. If the proceeds of the bonds of any issue shall exceed the amount required for the purpose for which such bonds are issued, the surplus may be used for additional projects or shall be paid into the fund provided in this article for the payment of principal and interest of such bonds. Prior to the preparation of definitive bonds, the authority may, under like restrictions, issue interim receipts, interim certificates, or temporary bonds, with or without coupons, exchangeable for definitive bonds upon the issuance of the latter. The authority may also provide for the replacement of any bond which shall become mutilated or be destroyed or lost. Such revenue bonds may be issued without any other proceedings or the occurrence of any other conditions or things than those proceedings, conditions, and things which are specified or required by this article. In the discretion of the authority, revenue bonds of a single issue may be issued for the purpose of paying the cost of any one or more projects at one or more institutions. Any resolution providing for the issuance of revenue bonds under this article shall become effective immediately upon passage and need not be published or posted, and any such resolution may be passed at any regular or special or adjourned meeting of the authority by a majority of its members.