(1) Bonds issued under 7-14-2522 (1) may not be issued for a term longer than 20 years.
(2) A bond issued under 7-14-2522 (1)(b) may not be issued for a term longer than 10 years, except that if the unexpired term of the bonds to be refunded is greater than 10 years, the refunding bonds may be issued for the unexpired term.