Bonds authorized under this chapter may be issued in an amount or amounts as the board of trustees determines. However, the bonds may not exceed:

1. (1) the total estimated cost of any proposed building, facility, work, act, or undertaking authorized, including interest during construction, incidental expenses, debt service reserves, and financing costs; or

2. (2) the amount required to effect any proposed funding or refunding operation.

   [Pre-2007 Higher Education Recodification Citation: 23-13-18-17(a).]

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