Section 12-701 - Power to issue and secure bonds(a) An authority may: (1) issue bonds for any of its corporate purposes;(2) issue refunding bonds to pay or retire its bonds; and(3) issue any kinds of bonds, including bonds on which the principal and interest are payable:(i) only from the income and revenues of the housing project financed with the proceeds of the bonds or with these proceeds and a grant from the State or federal government in aid of the housing project;(ii) only from the income and revenues of designated housing projects whether or not they were financed wholly or partly with the proceeds of the bonds; or(iii) from its revenues generally.(b) To secure any of its bonds, an authority may pledge any revenue or mortgage a housing project or other property of the authority.