1. (a) Except:

   1. (1) for grant anticipation notes; and

   2. (2) as provided in this chapter;

      no bonds shall be issued for a project by the board of trustees of a state educational institution under this article unless the general assembly has taken the actions described in subsection (b).

2. (b) As a condition of issuing bonds, the general assembly must have:

   1. (1) specifically approved the project to be financed through the issuance and sale of these bonds; and

   2. (2) provided the amount of bonds that may be issued to fund the costs of acquiring, constructing, remodeling, renovating, furnishing, or equipping the specific project approved.

      [Pre-2007 Higher Education Recodification Citation: 20-12-6-17(a).]

As added by P.L.2-2007, SEC.275.