(a) The authority granted to the State of Alabama to become indebted and to sell and issue its interest-bearing General Obligation bonds, in addition to all other bonds of the state, under Amendment 666 to the Constitution of Alabama of 1901, as amended, [§219.04] is hereby increased to an aggregate principal amount not exceeding $750 million.
(b) All of the bonds shall be sold only at public sale or sales, either on sealed bids or at public auction, after such advertisement as may be prescribed by the Bond Commission, to the bidder whose bid reflects the lowest true interest cost to the State computed to the respective maturities of the bonds sold; provided, that if no bid deemed acceptable by the commission is received all bids may be rejected.
(c) Relative to issuance expenses, contracts and appointments incurred in connection with the issuance of bonds, the Bond Commission created in Section IX of Amendment 666 to the Constitution of 1901, [§219.04] shall contract with businesses or individuals which reflect the racial and ethnic diversity of the state.
(d) In all other respects, the terms and provisions of Amendment 666 to the Constitution of Alabama of 1901, [§219.04] as amended, will be unchanged and remain in full force and effect.