Indiana Statutes
§ 21-35-4-8 — Bonds for a project; principal and interest
Indiana·Title 21 HIGHER EDUCATION·Art. 35 STATE EDUCATIONAL INSTITUTIONS:·Ch. 4 Indiana State University; Dormitories
The principal and interest of the bonds for a
project, when sold, are a primary, fixed charge against the net income
of the project being constructed and erected. The net income must be
applied by the board of trustees in payment of the principal and interest
of the bonds as the principal and interest become due until full and
final payment of all of the bonds and interest is made.
[Pre-2007 Higher Education Recodification Citation:
20-12-53-1(a) part.]
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Legislative History
As added by P.L.2-2007, SEC.276. Amended by P.L.3-2008,
SEC.141.
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