In addition to the powers which it may now have, the village has the power under this article to:
(a) Issue its bonds to finance and refinance in whole or in part the cost of acquisition, purchase, construction, reconstruction, improvements, betterment, operation or extension of any qualified project. In determining such cost, there may be included all costs and estimated costs of the issuance of such bonds and all engineering, inspection, fiscal and legal expenses.
(b) Pledge to the punctual payment of the bonds authorized under this article and interest thereon, the income and revenue to be received from such qualified project and its owner and any guarantor (including improvements, betterments or extensions thereto which may thereafter be constructed or acquired) sufficient to pay such bonds and interest as they become due and create and maintain reasonable reserves therefor.
(c) Enter into a loan agreement or other financing agreement and accept a note, a mortgage or deed of trust, or other instrument or instruments, as security for the payment of the proceeds of the revenue bonds and to pledge such note or mortgage or deed of trust or other instrument or instruments for the benefit of the holders of the bonds.
(d) Issue its bonds to refund in whole or in part bonds therefor issued by the village under the authority of this article. (Ord. 0-06-21, 5-1-2006)