[§356D-21]  Bonds; authorization.  (a) The authority, with the approval of the governor, may issue from time to timebonds (including refunding bonds to pay, retire, or provide for the retirementof bonds previously issued by the authority) in amounts not exceeding the totalamount of bonds authorized to be issued by the legislature for any of itscorporate purposes.

(b)  All bonds shall be issued pursuant to partIII of chapter 39, except as provided in this part.

(c)  The bonds shall be issued in the name ofthe authority, and not in the name of the State.  The final maturity date ofthe revenue bonds may be any date not exceeding sixty years from the date ofissuance.

(d)  The authority may issue bonds as it maydetermine, including without limitation bonds payable from and secured, inwhole or in part, by:

(1)  Income and revenues derived from the publichousing project or projects financed from the proceeds of bonds;

(2)  Receipts derived from any grant from the federalgovernment made in aid of a public housing project or projects financed fromthe proceeds of bonds;

(3)  Income and revenues derived from a particulardesignated public housing project or projects whether or not financed, in wholeor in part, from the proceeds of bonds;

(4)  Income and revenues of the authority generally;or

(5)  Any combination of paragraphs (1) through (4).

(e)  Any pledge made by the authority shallcreate a perfected security interest in the revenues, moneys, or property sopledged and thereafter received by the authority from and after the time that afinancing statement with respect to the revenues, moneys, or property sopledged and thereafter received shall be filed with the bureau of conveyances. Upon the filing, the revenues, moneys, or property so pledged and thereafterreceived by the authority shall immediately be subject to the lien of thepledge without any physical delivery thereof or further act, and the lien ofthe pledge shall be prior to the lien of all parties having claims of any kindin tort, contract, or otherwise against the authority, irrespective of whetherthe parties have notice thereof.  This section shall apply to any financingstatement heretofore or hereafter filed with the bureau of conveyances withrespect to any pledge made to secure revenue bonds issued under this part.

(f)  Any public housing project or projectsauthorized by, and undertaken pursuant to, this chapter shall constitute an"undertaking" within the meaning of that term as defined and used inpart III, chapter 39.  The authority shall constitute a "department"and the board shall constitute a "governing body" within the meaningof those terms as defined and used in part III, chapter 39.

(g)  Neither the members of the board nor anyperson executing the bonds shall be liable personally on the bonds by reason ofthe issuance thereof. [L 2006, c 180, pt of §2]