(b) The authority is hereby authorized, as an additional corporate purpose thereof, to issue its bonds, notes and other obligations in conformity with applicable provisions of the uniform commercial code in a principal amount necessary to achieve purposes enumerated in paragraph (a) of this subdivision, including a principal amount necessary to provide capitalized interest for a period not to exceed six months subject to the limitations in subdivision three of this section. In computing the total principal amount of bonds, notes and other obligations that may at any time be issued for any purpose under this section, the amount of the outstanding bonds or notes that constitutes interest under the United States internal revenue code of nineteen hundred eighty-six, as amended to the effective date of this section, shall be excluded. 2. All of the provisions of this title, which are not inconsistent with the provisions of this section, shall apply to the projects and obligations authorized by this section, including but not limited to the power to issue renewal notes or refunding bonds. 3. The authority shall make available a total amount of moneys not exceeding fifty million dollars, exclusive of federal funds and any state and local moneys which may be available, for capital purposes and for the other purposes enumerated in this section. The fifty million dollar amount shall be distributed as follows: (a) (i) an amount not to exceed fifteen million dollars shall be made available for the project, or portions thereof, known as the inner harbor project located in Onondaga county including, but not limited to, dredging of inner harbor, reconstruction of harbor piers including but not limited to site preparation, utility lines, and hard edging of the pier, marina development including the establishment of dock space, parking, hoists, and lifts, shoreline and west side harbor landscaping, gateway and finger park development, southern pier freighthouse rehabilitation, and the reconstruction of Solars Boulevard including design and construction, excavation, curbing, lighting and paving and infrastructure projects related thereto; (ii) an amount not to exceed five million dollars shall be made available for the project, or portions thereof, known as the intermodal transportation facility located in Onondaga county and infrastructure projects related thereto; (b) an amount not to exceed fifteen million dollars shall be made available for improvements related to the Buffalo inner harbor component of the horizons waterfront development project, or portions thereof, generally located in and around Erie county, and the New York state canal system generally located along the Erie canal in Erie and Niagara counties. The horizons waterfront development project improvements shall include the inner harbor project generally located in the city of Buffalo in the vicinity of the foot of Main street on the Buffalo river and may include, but not be limited to, the development of an automobile, bus, rail, water taxi, cycling, and pedestrian intermodal transportation hub and the waterfront area which will be serviced, including but not limited to design, environmental studies, real estate acquisition, construction, reconstruction, construction inspection, landscaping, excavation and dredging, enhancement related improvements and infrastructure improvements related thereto. The improvements to the New York state canal system may include but not be limited to construction, reconstruction, and development, terminal wall rehabilitation, transient docking, boater services, landscaping, and signage in the city of Tonawanda and the city of North Tonawanda; and (c) an amount not to exceed fifteen million dollars shall be made available for the project, or portions thereof, known as the Stewart airport access project located in Orange county to provide direct access to Stewart international airport from interstate eighty-four in the vicinity of the airport.