(a) When a governmental unit determines the need to issue bonds for capital improvements of a public nature or industrial enterprise, the governing body shall authorize the issuance of those bonds by order, ordinance, or resolution or by letter bearing the signature of the executive head of the governing body clearly stating the principal amount of and the purpose or purposes for which the bonds are to be issued.
(b) (1) Only upon the order, ordinance, or resolution or by letter bearing the signature of the executive head of the governing body shall the governmental unit be authorized to issue the bonds.(2) An order, ordinance, or resolution or a letter bearing the signature of the executive head of the governing body is not required for the issuance of refunding bonds, including refunding bonds when the principal amount of the new bonds to be issued exceeds the outstanding principal amount of the prior bonds or notes to be refunded.
(1) Only upon the order, ordinance, or resolution or by letter bearing the signature of the executive head of the governing body shall the governmental unit be authorized to issue the bonds.
(2) An order, ordinance, or resolution or a letter bearing the signature of the executive head of the governing body is not required for the issuance of refunding bonds, including refunding bonds when the principal amount of the new bonds to be issued exceeds the outstanding principal amount of the prior bonds or notes to be refunded.