[§342D-88]  Revenue bonds; authorization.  (a)  The director of health, with the approval of the governor and the [director of finance], may issue revenue bonds at such times and in such amount or amounts, not to exceed $250,000,000 in aggregate principal, as may be necessary to carry out the purposes of this part.

     (b)  All such bonds shall be issued pursuant to part III of chapter 39, except as provided in this part.

     (c)  The resolution or certificate providing for the issuance of the bonds may provide that all or part of the proceeds of the bonds shall be deposited in the revolving fund, where the proceeds shall be held and invested in a separate account or accounts until used in accordance with section 342D-84. [L 1997, c 221, pt of §1]