(a) This chapter is the sole authority required for the issuance of bonds under this chapter and for the exercise of the powers of an industrial development authority established under this chapter.
(b) A local government represented on the board of directors of an industrial development authority need not authorize or approve the:(1) Issuance of bonds under this chapter; or(2) Exercise of any other powers by an industrial development authority under this chapter.
(1) Issuance of bonds under this chapter; or
(2) Exercise of any other powers by an industrial development authority under this chapter.