Sec. 4. (a) Sections 20 through 23 of this chapter may not be construed to affect the validity of:
(1) any contracts executed before March 9, 1965; or
(2) any bonds contracted to be sold before March 9, 1965.
(b) Sections 20 through 23 of this chapter do not apply to:
(1) any facilities:
(A) approved by:
(i) the budget agency or any predecessor to the budget agency; and
(ii) the governor;
before March 9, 1965; or
(B) for which temporary or interim financing commitments were made before March 9, 1965; or
(2) the issuance of bonds for any facilities described in subdivision (1).