Sufficiency of State Securities Law

1. The State Securities Law, without reference to other statutes of this state, except as herein otherwise expressly provided, shall constitute full authority for the exercise of the incidental powers herein granted concerning the borrowing of money and any other incurrence of obligations to defray wholly or in part the cost of any project appertaining to the State and otherwise authorized by law, or to refinance outstanding loans, or both, and the issuance of bonds or other securities to evidence such loans or other obligations or to fund or refund outstanding securities, or any combination thereof, as the Commission may determine. 2. No other act or law with regard to the authorization or issuance of securities or the exercise of any other power herein granted that requires an election or another approval or in any way impedes or restricts the carrying out of the acts herein authorized to be done shall be construed as applying to any proceedings taken hereunder or acts done pursuant hereto, except as otherwise provided in the State Securities Law or in any act supplemental hereto. 3. The powers conferred by the State Securities Law shall be in addition and supplemental to, and not in substitution for, and the limitations imposed by the State Securities Law shall not affect the powers conferred by, any other law. 4. Nothing contained in the State Securities Law shall be construed as preventing the exercise of any power granted to the State, acting by and through the Commission, or any officer, agent or employee of the State, or otherwise, by any other law. 5. No part of the State Securities Law shall repeal or affect any other law or part thereof, it being intended that the State Securities Law shall provide a separate method of accomplishing its objectives and not an exclusive one; and the State Securities Law shall not be construed as repealing, amending or changing any such other law.