21-35-6-7. Maximum amount of bonds

IN Code § 21-35-6-7 (2019) (N/A)
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Sec. 7. Bonds authorized under this chapter may be issued in an amount or amounts as the board of trustees determines. However, the bonds may not exceed:

(1) the total estimated cost of any proposed building, facility, work, act, or undertaking authorized, including interest during construction, incidental expenses, debt service reserves, and financing costs; or

(2) the amount required to effect any proposed funding or refunding operation.

[Pre-2007 Higher Education Recodification Citation: 23-13-18-17(a).]

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