(a) If money is not available, a political subdivision may:
(1) declare an emergency to:
(A) pay the principal of and interest on bonds issued under this chapter any part of which is payable from taxes; or
(B) meet any other need of the political subdivision; and
(2) issue tax or bond anticipation notes to borrow the money needed.
(b) Notes issued under this section must mature not later than one year after their date.