Statutes, codes, and regulations
Indiana Code
Title 21 - HIGHER EDUCATIONArticle 34 - STATE EDUCATIONAL INSTITUTIONS: ACQUISITION AND IMPROVEMENT OF BUILDING FACILITIES AND EQUIPMENT; BONDS
Chapter 8 - BONDS: LIABILITY FOR DEBT; TAX EXEMPT STATUS; ELIGIBILITY AS INVESTMENTS
Section 21-34-8-2 - Liability of state or institutions for indebtedness limited

Ind. Code § 21-34-8-2

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Current through P.L. 171-2024
Section 21-34-8-2 - Liability of state or institutions for indebtedness limited

All indebtedness, bonds, or obligations incurred, created, or issued under the authority of this article:

(1) are payable solely out of the building facilities fund and the property, fees, income, and funds pledged or mortgaged as authorized; and
(2) may not be or become an indebtedness of or liability against the state of Indiana or a state educational institution, except to the extent of the property, fees, income, and funds pledged or mortgaged as authorized.

IC 21-34-8-2

Pre-2007 Higher Education Recodification Citation: 20-12-6-10.

As added by P.L. 2-2007, SEC.275.