(a)      The Department from time to time may issue its bonds on behalf of this State to finance the cost of any one or more or combination of transportation facilities.

      (b)      The bonds shall be known as "consolidated transportation bonds" and may be issued in any amount as long as the aggregate outstanding and unpaid principal balance of these bonds and bonds of prior issues does not exceed at any one time the sum of $2.0 billion.

      (c)      The maximum outstanding and unpaid principal balance of consolidated transportation bonds and bonds of prior issues as of June 30 for the next fiscal year:

            (1)      Shall be established each year by the General Assembly in the State budget; and

            (2)      May not exceed the limit established in subsection (b) of this section.