A district:

1. (1) pending receipt of a grant; or

2. (2) in anticipation of the issuance of bonds under this article;

   may borrow money from any person and evidence the debt by a note or notes executed by the chairperson of the board and the controller of the district and containing the terms and provisions prescribed by the board.

   [Pre-1996 Recodification Citation: 13-9.5-9-7(a).]

As added by P.L.1-1996, SEC.11.