§ 11

Ind. Code § 21-35-4-11

Proceeds of sale of bonds

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

The proceeds of sale of any bonds for a project shall be applied solely to:

  1. (1) the building of the project; and

  2. (2) the payment of principal and interest of the bonds if a surplus should exist after completion and full payment for the erection and construction of the project.

    [Pre-2007 Higher Education Recodification Citation: 20-12-53-1(c).]

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

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