B.__Exchanged for other bonds on the basis of par; or

C.__Sold to the Federal Government at private sale at not less than par.__If less than all of the authorized principal amount of the bonds is sold to the Federal Government, the balance may be sold at private sale at not less than par at an interest cost to the municipality that does not exceed the interest cost to the municipality of the portion of the bonds sold to the Federal Government.

5.__Signatures of outgoing officers; negotiability.__If an official of the authority whose signature appears on a bond or coupon issued under this article ceases to be an official before the bond is delivered, the signature is nevertheless valid for all purposes as if the official had remained in office until the delivery.__Notwithstanding contrary provisions of law, bonds issued under this article are fully negotiable.

6.__Bond recitation; conclusive presumptions.__In actions or proceedings involving the validity or enforceability of a bond issued under this article or the security for that bond, a bond reciting in substance that it has been issued by the authority in connection with an activity is conclusively deemed to have been issued for that purpose and the activity is conclusively deemed to have been planned, located and carried out in accordance with this article.

7.__No personal liability; not debt of State or municipality.__ Neither the trustees of the authority nor the person executing the bonds is liable personally on the bonds by reason of the issuance of the bonds.__The bonds and other obligations of the authority must have stated on their face that they are not a debt of the State and that the State is not liable on the bonds.__The bonds or obligations may not be payable out of funds or properties other than those of the authority acquired for the purposes of this article.

8.__Bonds as legal investments.__Public officers, municipal corporations, political subdivisions and public bodies; banks, trust companies, bankers, savings banks and institutions, building and loan associations, savings and loan associations, investment companies and other persons carrying on a banking business; insurance companies, insurance associations and other persons carrying on an insurance business; and executors, administrators, curators, trustees and other fiduciaries may legally invest sinking funds, money or other funds belonging to them or within their control in bonds or other obligations issued