(1) The bonds may be sold in such manner and at such prices, including sale at discount, as the county jail board, municipal jail board, or public instrumentality jail board may accept.
(2) The proceeds derived from the sale of revenue bonds by the board under the provisions of this subchapter shall be deposited into a board jail fund and shall be used for the purposes of constructing or expanding jails, and for all other expenses incidental to the issuance of the bonds, as authorized in this subchapter.