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2022 Indiana Code
Title 21. Higher Education
Article 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
21-34-8-2. Liability of State or Institutions for Indebtedness Limited
Universal Citation:
IN Code § 21-34-8-2 (2022)
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Sec. 2. 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.
[Pre-2007 Higher Education Recodification Citation: 20-12-6-10.]
As added by P.L.2-2007, SEC.275.
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