If bonds are issued under this chapter:

1. (1) the building that is constructed, equipped, or improved with proceeds of the bonds is:

   1. (A) the property of the county issuing the bonds; or
   2. (B) the joint property of the counties involved if the bonds are issued by at least two (2) counties; and

2. (2) the tax limitations in sections 1 and 2 of this chapter do not apply to the levy of taxes to pay the bonds and the interest on the bonds.

   [Pre-1992 Revision Citation: 16-16-1-5 part.]

As added by P.L.2-1992, SEC.23.