Grant anticipation revenue bonds or notes:

1. (1) constitute the corporate obligations of the authority;
2. (2) do not constitute an indebtedness of the state within the meaning or application of any constitutional provision or limitation; and

3. (3) are payable solely as to both principal and interest from:

   1. (A) the revenues from a lease to the department, if any;
   2. (B) proceeds of bonds or notes, if any; or
   3. (C) investment earnings on proceeds of bonds or notes, if any.

As added by P.L.246-2005, SEC.83.