(a) The fund may be used by the authority to provide money for

1. (1) the defeasance of bonds, or the payment of debt service on loans for or on an issue of bonds sold in connection with a power project constructed or acquired before August 11, 1993;
2. (2) the cost of operating and maintaining power projects constructed or acquired before August 11, 1993; and
3. (3) debt service on power projects constructed or acquired before August 11, 1993.