Except as provided in N.C. Gen. Stat. § 160A-626, the Authority shall be deemed a city for purposes of civil liability pursuant to N.C. Gen. Stat. § 160A-485 Governmental immunity of the Authority is waived to a minimum of twenty million dollars ($20,000,000) per single accident or incident. The Authority shall maintain a minimum of twenty million dollars ($20,000,000) per single accident or incident of liability insurance. Participation in a local government risk pool pursuant to Article 23 of Chapter 58 of the N.C. Gen. Stat. shall be deemed to be the purchase of insurance for the purpose of this section. (2005-160, s. 1.)