Indiana Code 8-25-5-15. State moral obligation not created
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Terms Used In Indiana Code 8-25-5-15
- bonds: has the meaning set forth in IC 36-1-2-2. See Indiana Code 8-25-5-2
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
Sec. 15. Bonds issued under this chapter do not create a moral obligation of the state to pay all or part of the debt.
As added by P.L.153-2014, SEC.17.