§ 21-35-2-22 — Bond issuance; limitations

Bonds may not be issued by any of the
institutions under this chapter unless the general assembly has provided
for the bonds by establishing in the appropriation act the amount of
bonds that the institutions may issue for the purposes described in
section 14(1) of this chapter. However, the bonds, regardless of when
the appropriation law was enacted, may be issued in an amount not
exceeding:
(1) the amount of bonds approved in the appropriation law
together with the amounts described in section 14(2) of this
chapter; plus
(2) the amount of the discount below par value, if the bonds are
sold at a price below par value under IC 21-32-3-2.
[Pre-2007 Higher Education Recodification Citation:
20-12-7-8.]

Legislative History

As added by P.L.2-2007, SEC.276.