Ind. Code § 21-34-8-2
Liability of state or institutions for indebtedness limited
As added by P.L.2-2007, SEC.275.
All indebtedness, bonds, or obligations incurred, created, or issued under the authority of this article:
- (1) are payable solely out of the building facilities fund and the property, fees, income, and funds pledged or mortgaged as authorized; and
(2) may not be or become an indebtedness of or liability against the state of Indiana or a state educational institution, except to the extent of the property, fees, income, and funds pledged or mortgaged as authorized.
[Pre-2007 Higher Education Recodification Citation: 20-12-6-10.]
As added by P.L.2-2007, SEC.275.