(a)
(1) Nothing in this subchapter shall be construed to reduce or take away any of the powers or authority of the city council or other governing body, at the request of the commission, to authorize the issuance of bonds or other evidences of indebtedness under other applicable legislation.
(2) Nothing in this subchapter shall be construed to affect bonds previously so issued or other obligations previously so incurred which are ratified and confirmed.
(b) Nothing in this subchapter shall be construed to authorize any municipality or commission to issue revenue bonds or other evidences of debt or to pledge electric property, for the purpose of acquiring or paying the cost of acquisition by purchase, condemnation, or otherwise of any electric light and power plants, system, or other facilities, or any part thereof, owned or operated by another utility without the consent of such utility.