A local government may create a Resilience Authority by local law in accordance with this title. A local law adopted under this section: is administrative in nature; and is not subject to referendum. Notwithstanding any other provision of law or charter provision, subsection (a) of this section is self–executing and fully authorizes a local government to establish a Resilience Authority. A local law adopted under subsection (a) of this section shall include proposed articles of incorporation of the Resilience Authority that state: the name of the Resilience Authority, which shall be “Resilience Authority of (name of the incorporating local government)”; that the Resilience Authority is formed under this title; the names, addresses, and terms of office of the initial members of the board of directors of the Resilience Authority; the address of the principal office of the Resilience Authority; the purposes for which the Resilience Authority is formed; and the powers of the Resilience Authority, subject to the limitations on the powers of a Resilience Authority under this title. The chief executive of the incorporating local government, or any other official designated in the local law establishing the Resilience Authority, shall execute and file the articles of incorporation of the Resilience Authority for record with the State Department of Assessments and Taxation. When the State Department of Assessments and Taxation accepts the articles of incorporation for record: the Resilience Authority becomes a body politic and corporate and an instrumentality of the incorporating local government; and the Chief Executive of the incorporating local government, or any other official designated in the local law establishing the Resilience Authority, shall submit the articles of incorporation, in accordance with § 2–1257 of the State Government Article, to: the Senate Budget and Taxation Committee and the Senate Education, Health, and Environmental Affairs Committee; and the House Appropriations Committee and the House Environment and Transportation Committee. Acceptance of the articles of incorporation for record by the State Department of Assessments and Taxation is conclusive evidence of the formation of the Resilience Authority. The local governing body shall approve any amendment to the articles of incorporation of the Resilience Authority. Articles of amendment may contain any provision that lawfully could be contained in articles of incorporation at the time of the amendment. The articles of amendment shall be filed for record with the State Department of Assessments and Taxation. The articles of amendment are effective as of the time the State Department of Assessments and Taxation accepts the articles for record. Acceptance of the articles of amendment for record by the State Department of Assessments and Taxation is conclusive evidence that the articles have been lawfully and properly adopted. Subject to the provisions of this title and any limitations imposed by law on the impairment of contracts, the incorporating local government, in its sole discretion, by local law may: set or change the powers, structure, organization, procedures, programs, or activities of the Resilience Authority; determine the revenue sources of the Resilience Authority, including the use of general fund revenue and general obligation bonds; establish the budgetary and financial procedures of the Resilience Authority; and terminate the Resilience Authority. On termination of a Resilience Authority: title to all property of the Resilience Authority shall be transferred to and be vested in the incorporating local government; and all obligations of the Resilience Authority shall be transferred to and assumed by the incorporating local government.