Indiana Code 5-1.2-8-11. Mortgages
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Sec. 11. The authority may mortgage all or any part of:
(2) the site or sites of the facilities, whether presently owned or subsequently acquired;
(1) any educational facility project and any other educational facilities conveyed to the authority for an educational purpose; and
Terms Used In Indiana Code 5-1.2-8-11
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
for the benefit of the holders of the bonds of the authority issued to finance an educational facility project or any portion of an educational facility project or issued to refund or refinance outstanding indebtedness of a nonprofit college or university as permitted by this chapter.
As added by P.L.189-2018, SEC.25.