If the approval of the State Fiscal Accountability Authority or the Department of Administration, as appropriate, is obtained and expressed by a resolution adopted by the State Fiscal Accountability Authority or the Department of Administration, as appropriate, the trustees of the College shall be authorized to issue, from time to time, bonds of the trustees, payable from the revenues required by this chapter to be pledged therefor, in such amount as the trustees and the State Fiscal Accountability Authority or the Department of Administration, as appropriate, shall approve.