Bonds or notes of authority not state indebtedness; funds from which payable

Ind. Code § 8-14.5-6-10
in effect
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Sec. 10. The bonds or notes: (1) constitute the corporate obligations of the authority; (2) do not constitute an indebtedness of the state within the meaning or application of any constitutional provision or limitation; and (3) are payable solely as to both principal and interest from: (A) the revenues from a lease to the department, if any; (B) proceeds of bonds or notes, if any; or (C) investment earnings on proceeds of bonds or notes. As added by P.L.68-1988, SEC.12.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/8Fetched: 10/17/2026

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