Section 21-34-10-2 - Actions of general assembly(a) Except: (1) for grant anticipation notes; and(2) as provided in this chapter; no bonds shall be issued for a project by the board of trustees of a state educational institution under this article unless the general assembly has taken the actions described in subsection (b).
(b) As a condition of issuing bonds, the general assembly must have: (1) specifically approved the project to be financed through the issuance and sale of these bonds; and(2) provided the amount of bonds that may be issued to fund the costs of acquiring, constructing, remodeling, renovating, furnishing, or equipping the specific project approved.Pre-2007 Higher Education Recodification Citation: 20-12-6-17(a).
As added by P.L. 2-2007, SEC.275.