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<section article="ghs" article_name="Housing and Community Development" number="12-701" title_number="12" title_name="Provisions of Statewide Applicability" subtitle_number="7" subtitle_name="Bonds">
  <level label="a">
    <text>An authority may:</text>
    <level label="1">
      <text>issue bonds for any of its corporate purposes;</text>
    </level>
    <level label="2">
      <text>issue refunding bonds to pay or retire its bonds; and</text>
    </level>
    <level label="3">
      <text>issue any kinds of bonds, including bonds on which the principal and interest are payable:</text>
      <level label="i">
        <text>only from the income and revenues of the housing project financed with the proceeds of the bonds or with these proceeds and a grant from the State or federal government in aid of the housing project;</text>
      </level>
      <level label="ii">
        <text>only from the income and revenues of designated housing projects whether or not they were financed wholly or partly with the proceeds of the bonds; or</text>
      </level>
      <level label="iii">
        <text>from its revenues generally.</text>
      </level>
    </level>
  </level>
  <level label="b">
    <text>To secure any of its bonds, an authority may pledge any revenue or mortgage a housing project or other property of the authority.</text>
  </level>
</section>
