Indiana Code 5-1.3-6-8. Declaration concerning liability; sources or repayment
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Sec. 8. The bonds or notes:
(2) do not constitute an indebtedness of the state within the meaning or application of any constitutional provision, prohibition, or limitation; and
(1) constitute the corporate obligations of the IFA or the NWIRDA;
Terms Used In Indiana Code 5-1.3-6-8
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
(3) are payable solely as to both principal and interest from:
(A) the revenues from a lease to the NWIRDA, if any;
(B) other available revenues, if any;
(C) proceeds of bonds or notes, if any; or
(D) investment earnings on proceeds of bonds or notes.
As added by P.L.189-2018, SEC.26.