Indiana § 21-34-8-2 Liability of state or institutions for indebtedness limited

Indiana Statutes

§ 21-34-8-2 — Liability of state or institutions for indebtedness limited

Indiana·Title 21 HIGHER EDUCATION·Art. 34 STATE EDUCATIONAL INSTITUTIONS:·Ch. 8 Bonds: Liability for Debt; Tax Exempt Status; Eligibility

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.]

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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.]

Indiana § 21-34-8-2 (Liability of state or institutions for indebtedness limited) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.