(

a) SANDAG may, from time to time, issue bonds in accordance with the Revenue Bond Law of 1941 (Chapter 6 (commencing with

Section 54300) of Part of Division of Title of the Government Code) for any of the purposes authorized by this chapter. SANDAG shall constitute a “local agency” within the meaning of

Section of the Government Code. The operation of SANDAG projects or any grouping or units thereof shall constitute an “enterprise” within the meaning of that section. (

b) Article 3 (commencing with

Section 54380) of

Chapter of Part of Division of Title of the Government Code does not apply to the issuance and sale of bonds pursuant to this

chapter and SANDAG shall authorize the issuance of such bonds by resolution of its board. (

c) Any bond issued pursuant to this

section shall contain on its face a statement to the following effect: “Neither the full faith and credit nor the taxing power of the State of California is pledged to the payment of principal of, or the interest of this bond.” (

d) SANDAG may bring an action to determine the validity of any of its bonds pursuant to

Chapter 9 (commencing with

Section 860) of Title of Part of the Code of Civil Procedure. (

e) Before issuing any new or increased toll revenue bonds, the board shall conduct at least one public meeting following at least days’ notice to the public at which public testimony shall be taken regarding the proposed bond issuance. Issuance of new or increased toll revenue bonds pursuant to this act shall require approval by at least two-thirds of the board’s voting members.