Local capital improvement grant anticipation notes.

(b) Local capital improvement grant anticipation notes shall be general obligations of the issuing municipality and each such obligation shall recite that the full faith and credit of the issuing municipality are pledged for the payment of the principal thereof and interest thereon. (c) No municipality shall authorize or approve the issuance of a local capital improvement grant anticipation note in connection with a local capital improvement project financed by a grant issued pursuant to subsection (i) of section 7-536 .