Bonds; Power to Issue; Purposes

The Authority shall have the power to authorize or provide for the issuance of bonds pursuant to this Chapter for the purpose of providing funds to pay or cause to be paid all or any part of the cost of any project or projects, or for the refinancing of any bonds. It is hereby declared that each project is and shall be a public improvement or undertaking as that term is used in Section 11 of the Organic Act (§1423a, Title 48, U.S. Code).