(1) This part shall be in addition and supplemental to any other law providing for the financing of capital projects by local government units and shall not be deemed to amend or repeal any other law.
(2) No proceedings by a local government unit shall be required for loan agreements hereunder, except as provided by this part, any law to the contrary notwithstanding.
(3) No other requirements or restrictions applicable to borrowing by a local government unit contained in any other law shall be applicable to loans under this part.