Sec. 11. The proceeds of sale of any bonds for a project shall be applied solely to:
(1) the building of the project; and
(2) the payment of principal and interest of the bonds if a surplus should exist after completion and full payment for the erection and construction of the project.
[Pre-2007 Higher Education Recodification Citation: 20-12-53-1(c).]
As added by P.L.2-2007, SEC.276.
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