Sec. 4. Bonds, regardless of when the amount of bonds is approved by the general assembly, may be issued in an amount not exceeding the sum of the following:
(1) The amount of bonds approved by the general assembly.
(2) The amounts described in section 3 of this chapter.
(3) The amount of the discount below par value, if bonds are sold at a price below par value under IC 21-32-3-2.