1. (a) Notwithstanding any other provision of this chapter, a district may do the following:

   1. (1) Borrow money from the state in accordance with other statutes.
   2. (2) Evidence the indebtedness upon terms and conditions that are provided in the statutes or that the state requires.

2. (b) A district may:

   1. (1) pay and discharge the indebtedness from the proceeds of bonds, notes, or other evidences of indebtedness issued under:

      1. (A) this chapter; or
      2. (B) IC 13-3-4 (before its repeal); or

   2. (2) refund the indebtedness to the state;

      in accordance with this chapter.

      [Pre-1995 Recodification Citation: 13-3-4-15.]

As added by P.L.1-1995, SEC.26.