Bonds, and the interest on the bonds, may be secured by pledge or mortgage of:

1. (1) any property, real or personal, used or acquired or to be acquired and used for the purposes described under this chapter and the improvements made or to be made on the property;
2. (2) the net income from the property;
3. (3) the property and the net income from the property; or

4. (4) any unobligated net income of any property financed under this chapter;

   as the board of trustees determines.

   [Pre-2007 Higher Education Recodification Citation: 20-12-7-2(a) part.]

As added by P.L.2-2007, SEC.276.