Sec. 3. Notwithstanding any other statute, a political subdivision may borrow the money necessary to finance:
(1) a public work project; or
(2) an eligible efficiency project;
from a financial institution in Indiana by executing a negotiable note under section 4 of this chapter. The political subdivision shall provide notice of its determination to issue the note under IC 5-3-1. Money borrowed under this chapter is chargeable against the political subdivision's constitutional debt limitation.