1. (a) For each issue of its bonds, a Resilience Authority shall adopt a resolution that:

   1. (1) specifies and describes the resilience infrastructure;
   2. (2) generally describes the public purpose to be served and the financing transaction;
   3. (3) specifies the maximum principal amount of the bonds that may be issued; and
   4. (4) imposes terms or conditions on the issuance and sale of bonds it considers appropriate.

2. (b) A Resilience Authority, by resolution, may:

   1. (1) specify, determine, prescribe, and approve matters, documents, and procedures that relate to the authorization, sale, security, issuance, delivery, and payment of and for the bonds;
   2. (2) create security for the bonds;
   3. (3) provide for the administration of bond issues through trust or other agreements with a bank or trust company that cover a countersignature on a bond, the delivery of a bond, or the security for a bond; and
   4. (4) take other action it considers appropriate concerning the bonds.

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