12. Debt issuance.
a. The issuance of any bonds, notes, or other instruments of indebtedness by the Commission shall be undertaken in a manner consistent with applicable laws governing the Commission and covenants with the holders of the commission's bonds, notes, or other instruments of indebtedness.
b. At least sixty days prior to an intended issuance, the Commission shall submit to the governor, and legislature of each state a statement of intent in regards to the issuance of and overall amount of bonds, notes, or other debt obligations anticipated, at the time the statement is submitted, during the next fiscal year.