(1) The State Board of Regents, on behalf of Dixie College, may issue, sell, and deliver revenue bonds or other evidences of indebtedness of Dixie College to borrow money on the credit of the income and revenues of Dixie College, other than appropriations of the Legislature, to finance the partial cost of constructing, furnishing, and equipping a student center building.
(2) The bonds or other evidences of indebtedness authorized by this section may not exceed $3,100,000 and shall be issued in accordance with Title 53B, Chapter 21, Revenue Bonds, under such terms and conditions and in such amounts as the board, by resolution, determines are reasonable and necessary.
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