1. (a) Notwithstanding any other provision of law, a Resilience Authority may issue and sell bonds periodically:

   1. (1) for resilience infrastructure projects;
   2. (2) to refund outstanding bonds;
   3. (3) to pay the costs of preparing, printing, selling, and issuing the bonds;
   4. (4) to fund reserves; and
   5. (5) to pay the interest on the bonds in the amount and for the period the Resilience Authority considers reasonable.
2. (b) Bonds issued by a Resilience Authority are limited obligations and are not a pledge of the faith and credit or taxing power of an incorporating local government.

Added by Acts 2020, c. 235, § 1, eff. July 1, 2020; Acts 2020, c. 236, § 1, eff. July 1, 2020.