Bonds, regardless of when the amount of bonds is approved by the general assembly, may be issued in an amount not exceeding the sum of the following:

1. (1) The amount of bonds approved by the general assembly.
2. (2) The amounts described in section 3 of this chapter.

3. (3) The amount of the discount below par value, if bonds are sold at a price below par value under IC 21-32-3-2 .

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

As added by P.L.2-2007, SEC.275. Amended by P.L.3-2008, SEC.140.