Ind. Code § 8-14.5-7-9

Current through P.L. 171-2024

Section 8-14.5-7-9 - Indebtedness limited to authority

Grant anticipation revenue bonds or notes:

(1) constitute the corporate obligations of the authority;

(2) do not constitute an indebtedness of the state within the meaning or application of any constitutional provision or limitation; and

(3) are payable solely as to both principal and interest from:

(A) the revenues from a lease to the department, if any;

(B) proceeds of bonds or notes, if any; or

(C) investment earnings on proceeds of bonds or notes, if any.

IC 8-14.5-7-9

As added by P.L. 246-2005, SEC.83.