5.__Award and sell securities.__The power to fix the date of sale of any securities, to receive bids or proposals, to award and sell any securities, to set the terms and provisions of any securities and to take all other action necessary to sell and deliver any securities may be delegated to any officer of the board by a majority of the members of the board.

6.__Proceeds of securities.__The proceeds of the securities of each issue must be used solely for the purpose or purposes for which the securities were authorized and disbursed in such manner and under such restrictions as the board may provide in the resolution authorizing the issuance of the securities or in the trust agreement securing the securities.__If the proceeds of the securities, by error of estimates or otherwise, are less than the cost, additional securities, in like manner, may be issued to provide the amount of the deficiency and, unless otherwise provided in the authorizing resolution or in the trust agreement securing the securities, are deemed to be of the same issue and are entitled to payment from the same fund without preference or priority of the securities first issued for the same purpose.__ The resolution providing for the issuance of securities and any trust agreement securing the securities may contain such limitations upon the issuance of additional securities as the board may consider proper.__Additional securities must be issued under such restrictions and limitations as may be prescribed by the resolution or trust agreement.__The board may provide for the replacement of any securities that become mutilated, destroyed, stolen or lost.__Securities may be issued under this Act without obtaining the consent of any department, division, commission, board, bureau or agency of the State and without any other proceedings or conditions or things other than those proceedings, conditions or things that are specifically required by this Act.

7.__Use of proceeds.__The proceeds of the securities of each issue must be used for the payment of all or part of the cost of the project, projects or part of any project for which they are authorized and must be disbursed in such manner and under such restrictions as are provided in the resolution authorizing the issuance of the bonds or in the trust agreement securing the securities.__Proceeds may be used to pay all costs incurred in issuing the securities, interest on the securities for such time as may be authorized by the board, subject to the provisions of this Act, and to establish reserve funds and sinking funds for the securities.

8.__Interim or temporary securities.__Prior to the preparation of definitive securities, the board may, under like