A county or municipality may incur general obligation debt for the purposes under this subtitle. Subject to subsection (c) of this section, a county or municipality may issue bonds to finance loans made under a program in accordance with the procedures of the county or municipality for authorization to sell and issue other evidences of indebtedness. A bond issued in accordance with an ordinance or a resolution that pledges the full faith and credit of a county or municipality is subject to: any applicable requirement of the Maryland Constitution and the county’s or municipality’s charter and laws on referendum for the issuance of general obligation debt; and any limitation imposed by public general law, public local law, or charter on general obligation debt of the county or municipality.