The authority or any other authority or body which has or which may in the future succeed to its powers, duties, and liabilities shall have the power and is authorized, at one time or from time to time, to provide by resolution for the issuance of negotiable bonds in a sum not to exceed $12,000,000.00 in principal amount outstanding at any one time for the purpose of paying all or any part of the cost of any one or a combination of projects.