Purposes for bond issuance

The district may issue bonds authorized by the Legislature pursuant to § 46A-1-29 or by § 46A-1-31 for the following purposes, which are hereby determined to be in the public interest and to constitute lawful and public purposes: (1) To acquire, construct, plan, or arrange for acquisition and construction of any one project, or more than one; (2) To issue bonds to effectuate § 46A-2-16 ; (3) To refund bonds heretofore and hereafter issued, including the refunding of bonds in advance of their call or maturity date. The refunding bonds may be partially or wholly secured by and payable from obligations of the United States government or the income from such obligations; (4) To fund a debt service reserve for the bonds; (5) To provide for capitalized interest during the estimated construction period of the projects and for a period of one year thereafter; (6) For any of the preceding purposes; (7) To enter into financing agreements to make loans pursuant to § 46A-1-49 ; (8) To provide for the payment of the costs of issuance of the bonds. At no time may district indebtedness exceed the aggregate indebtedness authorized by the Legislature pursuant to § 46A-1-29 , plus any additional amount authorized by that section, less the cumulative regular amortization payments made on each bond issue, except as specifically provided by §