(a) The board may provide by order or resolution for the issuance and sale of negotiable bonds authorized by Article III, Section 49-f, of the Texas Constitution. The proceeds from the sale of the bonds constitute the fund.
(b) Subchapter D, Chapter 58, as it relates to the issuance, sale, and refunding of bonds, applies to the board’s issuance, sale, and refunding of bonds under this chapter to finance the fund.