This subchapter applies only to a home-rule municipality that owns or may own a water, wastewater, storm water, or drainage utility system, by ordinance or charter elects to have the management and control of two or more of those utility systems governed by this subchapter, and:
(1) has outstanding obligations payable solely from and secured by a lien on and pledge of the net revenue of one or more of those systems; or
(2) issues obligations that are payable solely from and secured by a lien on and pledge of the net revenue of one or more of those systems.