Power to Issue Bonds.
Section 23
SEC 23. Power to Issue Bonds. — Whenever the Board deems it necessary, the Capital Fund for Operations and/or the Capital Fund for Social Services may by resolution be authorized to incur indebtedness, and for this purpose float and issue bonds to carry out the provisions of this Decree. The resolution allowing either or both Capital Funds to incur indebtedness shall properly indicate the funds liable therefor, and the bond instruments, prospectuses, documents, and other flotation shall carry appropriate notices of this indication for the benefit of the public and other parties dealing with the Authority. The Capital Fund for Operations may guaranty or assume indemnity or suretyship obligations in respect of the indebtedness of the Capital Fund for Social Services with the approval of two-thirds of the entire Board. The Capital Fund for Social Services may not, however, guaranty or assume indemnity or suretyship obligation in respect of the indebtedness of the Capital Fund for Operation without the pines, a person elected as director need not hold a qualifying of bond issues or loans backed up by or secured for the Capital Fund for Social Services shall, unless otherwise specified in the covering deed or prospectus, form part of the corpus of the trust and shall be utilized solely for investments according to the provisions of Section Six, the income from which but not the principal shall be available for expenditure for social benefit projects in the Basin. Donations, grants, bequests or loans to the income portion of the trust shall be expendable directly for social or public service projects.