Bonds may be issued for the amount or amounts as the board of trustees determines. However, these amounts may not exceed:

1. (1) the total estimated cost of acquiring, erecting, constructing, remodeling, renovating, completing, equipping, and furnishing any property as the respective trustees determine the cost to be; plus

2. (2) incidental expenses, financing costs, underwriter's discount, funded or capitalized interest, municipal bond insurance premiums, or funding debt service reserve funds from bond proceeds.

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

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