(a) Bonds of the University shall be authorized by resolutions of its Board of Trustees; may be issued in one or more series and shall be offered, awarded and executed in such manner, bear such date or dates, mature at such time or times, bear interest at such rate or rates not exceeding ten per centum per annum, be in such denomination or denominations, be in such form, bearer, order, coupon or registered, carry such conversion or registration privileges, have such rank or priority, be payable in such medium of payment, at such place or places, and be subject to such terms of redemption (with or without premium), as such resolution of the Board of Trustees, trust indenture, or mortgage may provide, and shall be fully negotiable.
(b) The bonds may be sold at public or private sale at not less than par.
(c) In case any of the Trustees or officers of the University whose signatures appear on any bonds or coupon shall cease to be such Trustees or officers before the delivery of the bonds, their signatures shall, nevertheless, be valid and sufficient for all purposes, the same as if the Trustees or officers had remained in office until such delivery.
(d) In any suit, action or proceeding involving the validity or enforceability of any bond of the University or the security therefor, any such bond reciting in substance that it has been issued by the University to aid in financing a project as defined in this chapter, shall be conclusively deemed to have been issued for such purpose, and the project shall be conclusively deemed to have been planned, located, and carried out in accordance with the purposes and provisions of this chapter.