The authority may mortgage all or any part of:

1. (1) any project and any other educational facilities conveyed to the authority for an educational purpose; and

2. (2) the site or sites of the facilities, whether presently owned or subsequently acquired;

   for the benefit of the holders of the bonds of the authority issued to finance a project or any portion of a project or issued to refund or refinance outstanding indebtedness of a nonprofit college or university as permitted by this chapter.

   [Pre-2007 Higher Education Recodification Citation: 20-12-63-11(11).]

As added by P.L.2-2007, SEC.69.