Notwithstanding any other law, as authorized and approved by the governing body of an issuer, obligations may be issued, sold, incurred, and delivered to:
(1) finance or refinance an eligible project;
(2) refund obligations, other indebtedness, or contractual obligations of the issuer issued or incurred in connection with an eligible project; and
(3) pay the costs of issuance or delivery of the obligations.